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Gold/Mining/Energy : Canmine resources
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To: Marshhawk who wrote (2761)5/7/2001 8:06:36 PM
From: Cumbrian  Read Replies (1) of 2769
 
Looks like hydromet may ready to rock?

What gives with CMR. I expected a bit of a bounce this spring but not much movement.

Cumbrian

Monday, May 7 2001
AUSTRALIA: ANACONDA SAYS OPERATING COSTS FALL IN APRIL. REUTR LBA May 7,
2001 MELBOURNE, May 7 (Reuters) - Anaconda Nickel Ltd said on Monday unit
operating costs at its Murrin Murrin nickel project in Western Australia
fell to US$1.28 per pound of nickel in April. The drop in costs from
US$1.32 a pound in March came as production from the Western Australian
operation, which extracts nickel from dry laterites, rose 0.6 percent to
2,676 tonnes of nickel in April or 72 percent of design capacity. "Assuming
commodity and foreign exchange rate consistency the continued reduction
clearly indicated that at 100 percent design capacity the C1 unit operating
costs of the Murrin Murrin operation will fall below US$1 a pound of
nickel," said Anaconda. Anaconda's shares fell seven cents to A$1.70 in
late-afternoon trade in a rising market. Anaconda is targeting output of
44,000 tonnes a year but has faced delays after a range of technical
glitches in the pioneering technique to extract nickel from dry laterites.
The outback miner's 24.5 percent shareholder Anglo American Plc is unhappy
with Anaconda's operating and financial performance and is putting pressure
on the company to change its leadership. Anaconda's chief executive Andrew
Forrest told Reuters last week that he would be prepared to step aside from
day-to-day management control of Murrin Murrin. Anglo American has not
responded to his move.
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