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Gold/Mining/Energy : Fairmile Gold

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To: I_C_Deadpeople who wrote (3330)	11/21/1997 5:41:00 PM
From: Leigh McBain	Read Replies (2) of 4057

Eric, just a note on the Arizona Star/Bema Gold property. They do not have to be at $375 to be economic, at least not according to James Capel HSBC. Latest edition of the Investor's Digest has his analysis showing an 11.4% internal rate of return with gold at $350 and copper at $.95 and the actual cost of production being estimated at $182 USD per ounce. You need to keep in mind that although they have the 19 million oz. low grade gold reserve, there is also 5 Billion pounds of copper in that deposit. Just some additional info. Salut, Leigh McBain

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