Manhattan Minerals (MAN.T) Message Board

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Gold/Mining/Energy : Manhattan Minerals (MAN.T)

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To: russwinter who wrote (4217)	12/3/2000 11:12:34 PM
From: Elizabeth Andrews	of 4504

I just read the Marlin news and quite frankly am a tad astonished. I believe that this is a very high quality prospect and may easily exceed Claude's estimate of one million ounces. I don't know if you realize this but the cash cost of producing an ounce of gold in ore that runs 11 g/tn in an open pit with virtually no stripping and good metallurgy would be about US$30 per ounce leaving a gross margin of US$230 at current prices. If the high grade core exists and can be drilled off, even if it is only 25 meters thick this will be a very valuable property. The high grade core allows early and rapid payback and greatly increases the marginal value of the 2 g/tn material that may be abundant. The low grade only has to carry its operating cost as the capital is repaid. I think it's worth much more than the C$4.70 it's trading for. I'm long this stock and plan to buy some more.

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