And here are some more calculations from Gord Bolton
Messina Mine
Commodity price April 1st 99 Oct 1st 99 change
Copper $.62 $.817 per lb. +$.18 per lb
Nickel $2.189 $3.257 per lb. +$1.07 per lb
Cobalt $15.00 $16.75 per lb. +$1.75 per lb
Gold $280.55 $307.50 per ounce $27.50 per ounce
Platinum $359.00 $410.00 per ounce $51.00 per ounce
Palladium $349.00 $383.00 per ounce $34.00 per ounce
Since April 1st 1999 the increase in metal prices have greatly improved the
economics of Messina.
Based on an 80,000 tonne per month mining rate the increase in profits due
to price increases are very substantial.
Assuming 2.5 gpt platinum, 2.5 gpt palladium and 1.4 gpt gold and 1 million
tonnes per year
1,875 tonnes nickel, 1,130 tonnes copper and 36 tonnes cobalt.
Increase in profits per year due to price increases.
Platinum $4,099,282.90
Palladium $2,732,855.30
Gold $1,326,238.60
Nickel $4,423,781.20
Copper $0,448,497.20
Cobalt $0,138,915.00
Total $13,169,570.00 per annum increase in profits.
The overall value of the Messina property has also increased in value by
roughly $675 million dollars over the last six months.
Not a bad investment of $10 million dollars which might otherwise have been
subject to 50% taxation.
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