Corner Bay Silver (BAY.T) Message Board

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Gold/Mining/Energy : Corner Bay Silver (BAY.T)

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To: Claude Cormier who wrote (912)	6/9/2000 1:52:00 AM
From: Elizabeth Andrews	Read Replies (3) of 4409

Claude, the 6% NAV calculation is baloney due to the fact that the economics claimed here do not have a reserve base to deliver long term cash flow at these prices. Change the discount rate to 15% to accurately reflect the quality of this resource base and then tell us what the NAP is. Lower? No kidding. I also mentioned a long, long time ago that the silver recovery rate was the issue and the only way to determine the truth was to due a 50,000 ton leach test, on a pad in real conditions at a crush size that appears to be correct. The stuff they are doing in the lab is not representative of field reality. Please tell us what the answers are as the questions are only part of the analysts' function.

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