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Gold/Mining/Energy : Donner Minerals (DML.V)
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To: Feline who wrote (2366)12/15/1997 12:29:00 AM
From: Garry  Read Replies (2) of 11676
 
How do those numbers add up ???
Information provided by e.Charter

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The Canadian Mining Newsletter
Dec 14 1997
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Donner Minerals DML/VSE

Donner has announced a wide step out hole that came back with 15.7
metres in core of about 1.13 % nickel, .78% copper and .20 % cobalt.

Now that is 51.51 feet of ore. 22.6 pounds of nickel worth $62.38 US per
short ton. .78% copper is 15.6 pounds worth $12.65 US per short ton and
4 pounds of cobalt which is worth $104.00 US. That is a total of $179.00
US per short ton or $255.00 per short ton CDN, NOT COUNTING THE PLATINUM
GROUP ELEMENTS WHICH ARE SURELY THERE. The PGE's and other precious metals
alone could add almost $40.00 per ton US to the value of the ore.

The historical average grade of the Sudbury camp is 1.2% nickel for 100
years. Average widths mined were about 20 feet true. This deposit is, so
far, by this hole perhaps 35 feet wide true and this demonstrates that
the deposit could hold a few tons and may be eminently mineable.

Do I believe the Donner results are hopeful? Yes. And it could get a lot
better.

What had concerned me in the past was that the usual sulphide phenomena
is narrow stays narrow. But wide begets wide and we have seen it here.

It is still a gamble as the market want spectacular, not average grade
and the short term view of metal markets is depressed. Still, the Donner
stuff is a very interesting discovery.

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