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Gold/Mining/Energy : Gold and Silver Mining Stocks
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To: russwinter who wrote (799)4/20/2001 10:43:40 AM
From: jpthoma1  Read Replies (1) of 4051
 
Good morning,

I am not as excited as you about those numbers.

First, I really don't like the grades (less than 1% combined Pd/Pt). Cost per ounces is consequently quite high. And, I would never have used a US$ 700/600 Pd/Pt price for a 15 years mine life. Too much optimism from the management. They won't be able to finance the project with such numbers.

I have not made any simulations, but I am pretty that the IRR falls rapidly when lowering prices to more conservative values.

They should try to find more high grade material.

IMHO

JP
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