International Precious Metals (IPMCF) Message Board

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Gold/Mining/Energy : International Precious Metals (IPMCF)

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To: Eric Tai who wrote (15)	9/4/1996 10:31:00 AM
From: Zeev Hed	of 35569

Eric: I do not have details of the production costs of the S.A. mines. I presume that you are right relative to the cost of mining, but I am not sure about the cost of extraction. If they can use pure gravimetric sepration techniques rather than chemical leaching or metalurgical smelting they should be much cheaper despite the fact that they need to go down deep to mine the raw ore. Remeber much coal is still mined underground and it is dirt cheap. IPMCF has already written down 9 projects in their prior history and they have some three or four additional projects that are in limbo but not yet written down. It seems like a lousy way of spending money. They behave like Charley Brown, no problem is so big you cannot run away from. Zeev

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