first quantum minerals FM on TSE Message Board

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Gold/Mining/Energy : first quantum minerals FM on TSE

FM 27.19

0.0%

Jan 8 3:00 PM EDT

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To: Dan P who wrote (324)	3/1/2001 8:22:25 PM
From: Stephen O	Read Replies (1) of 385

First Quantum has now been allotted time to speak at this conference which will be held March 5 and 6 in Florida. Originally they were just going to have a hospitality suite. It is the major event for institutional investors in mining companies of the year. Every big company is presenting with the presidents doing the speaking. It's an excuse to get out of Toronto in early March. This will be a big event in First Quantum maturing to be a better known company. Many of the institutional investors will have received the research done by the smaller firms like Cannacord, Dundee, Newcrest etc and probably just filed it away. This event should prompt them to dig out these reports and take a serious look. Estimates of earnings for fiscal 2000 will be given with the actual audited numbers to come about 2 weeks later which will be higher. Estimates for Q1 2001 will be given out too. First Quantum is a buy. I have also just received the following: First Quantum Minerals Ltd - In the News Lundin strongly encourages buying First Quantum First Quantum Minerals Ltd FM Shares issued 25,135,537 2001-02-20 close $3.6 Wednesday Feb 21 2001 In the News In the February issue of Gold Newsletter, Brien Lundin strongly encourages buying First Quantum ($3.80) now, as it will look too cheap at this level once last year's results become official. Results for the fourth quarter to Nov. 30 confirm FM is making excellent progress rehabilitating copper operations recently acquired from the Zambian government. Fourth quarter copper production was up 22 per cent over the third quarter, which was well ahead of previous quarters. Attributable production for the year was 32,470 tonnes. The company has accelerated its production ramp-up schedule and forecasts output of 200,000 tonnes of copper per year by 2003 -- 28 per cent above previous forecasts. Substantially higher throughputs and falling operating costs have hugely affected operating margins. Analysts estimate earnings of 30 cents a share for the fourth quarter and over 40 cents for the year. Investors may want to see audited figures rather than accept analyst estimates, but Mr. Lundin has a lot of confidence in these analysts and has evaluated the figures.

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