CORNUCOPIA RESOURCES CNP.t Message Board

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Gold/Mining/Energy : CORNUCOPIA RESOURCES CNP.t

CNP 39.00

+0.3%

Nov 6 3:59 PM EST

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To: Steve Hegji who wrote (101)	6/27/1997 11:01:00 PM
From: SnakeInATuxedo	of 336

Hmmmm... just a tad too optimistic, Mr. Hegji. By my calculations, they're planning to sell 37000 ounces this year. Their cash cost of production is $235/oz. Gold closed today at $335. Even factoring in forward sales, let's say they average $350/oz selling price for the gold. Thus: $350-$235 = $115 net profit x 37000 ounces is $4,255,000.00 50000 ounces a year, their intended stable yearly production target would net them $5,750,000.00 Not chump change, to be sure, but not quite as rosy. I'm expecting a rally in gold shortly from these dreary levels, but not enough to make up the difference.

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