Winter in the Great White North Message Board

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Strategies & Market Trends : Winter in the Great White North

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To: marcos who wrote (797)	6/4/2001 8:18:07 PM
From: tyc:>	of 8273

Antamina Do you remember this remark of yours, Marcos ? >>>the trick is to define just when that payback period will be completed, really dig up the details and sharpen the pencil, At the old Rio Algom website, there is a year-old presentation about Antamina including numerous slides. One of them is headed: FREE CASH FLOW NET OF PROJECT DEBT REPAYMENTS That is the money from which the owners will recover their equity of approximately US$1,000,000,000. (bear in mind that the current price of copper is .75c) All amounts in millions of US Dollars (from eyeballing the chart) ..........Cu .85c........Cu .95c..........Cu $1.05 2002........75............150...............225 2003.......120............200...............300 2004.......125............225...............260 3yr tot....320............575...............785 Clearly, copper would have to average over a dollar if the equity was to be repaid in only four years. However, you can sure see what terrific leverage there is to the price of metals. i wonder if "the coming bull market in commodities" will materialise.

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