Gold and Silver Juniors, Mid-tiers and Producers Message Board

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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: onepath who wrote (57319)	3/5/2008 8:51:01 PM
From: tyc:>	Read Replies (1) of 78408

Thanks ! Your posting is timely. I have just been studying the company's web site. I am impressed. Total market cap including the preferred shares is only about C$211M. If I understand correctly, the project gives the company the opportunity to invest ~$900M, and that investment at reasonable base case metal prices would yield (IRR) something over 9%. In comparison, MR's El Morro requires a capital investment of $2.5B and that larger investment at similar base case prices would yield about 8% according to the brief report that MR issued. Both seem attractive to me, especially with current and future prices expected to be very much higher than base case. What will happen if Goldcorp continues to decline to participate ? My feeling is that it will be a slam dunk for some other cash rich miner to buy out their preferred share interest. Any thoughts ?

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