Corriente Resources V.CTQ Junior Exploration Co. Message Board

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Gold/Mining/Energy : Corriente Resources V.CTQ Junior Exploration Co.

CTQ 25.45

0.0%

Sep 6 5:00 PM EST

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To: Claude Cormier who wrote (1361)	5/2/2000 10:05:00 AM
From: WillC	Read Replies (1) of 1416

Claude, I'm using the figuers from the April 26 press release whereby they state that Aur is paying US$262 million for 76.5% of QB. Later in the press release they mention that "Aur will also assume Cominco's and Teck's obligation to ENAMI requiring annual payments that average US$2.1 million per year from 2000 to 2004. QB currently has project bank debt which totals US$149.4 million of which US67.2 million is owed to a subsidiary of Teck and which is being acquired by Aur as part of the purchase payment obligation." So I deducted 67.2 million from 149.4 million and added it to the US$262. Although there are several different figuers stated about the reserves, on the Teck Corporation's Web site their own description of the mine includes the words, "Remaining ore reserve is 75 million tonnes grading 1.2% copper." I think this comparison (which I was directed to by CTQ when I asked their opinion) shows how desperate majors are for reserves. My second mantra on this play is, "that it doesn't matter what investors think, majors will determine the price at the time of a buyout." Will

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