Cross Lake Minerals CRN Message Board

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Gold/Mining/Energy : Cross Lake Minerals CRN

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To: the Chief who wrote (1063)	1/3/1998 4:16:00 PM
From: dean poets	Read Replies (2) of 3650

The Copper your refering to was basically the only mineral found on the last drill program, so you'd have calculate it on a copper basis only! Here's what you'd get from 3% Copper: You'd start off with 3%, but after sutracting mining discount you'd have about 2.55%. Then you figure that youll get about 60% net smelter return, your left with 1.5% Copper NSR. 1.5% multiplied by 20 Pounds multiplied by current price of Copper, 1.5%200.75= $22.50 $NSR - mining costs of $20 = $2.50 doesnt leave much room for profit. There still lots of exploration to be completed, and good luck in the next couple of months. Dean

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