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Gold/Mining/Energy : Int'l Pursuit (T.IPJ)
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To: Mikey who wrote (533)2/10/1998 2:11:00 AM
From: Ron Everest  Read Replies (2) of 835
 
Do you know what the definition of a "batholith" is? In reviewing the IPJ web site they show the porphyries at Mahakam rising out of a "batholith" at a depth of approx 1.5 km. I have a very comprehensive Oxford dictionary but no "batholith" in the dictionary.

I have some questions from your post:

a) Phillipines Project
<<As far as the Phillipines project is concerned, they want to sell it and he gave a ballpark figure of $75 million. >>

I thought that the deal to sell 60% was to close May 31st after scoping studies. If followed through, the buyer will pay US$15 million to IPJ over a number of months and there are other benefits to IPJ etc. Could you explain what you mean by the comment referring to $75 million? Is this if the deal does not close? Is this US$? Are you saying that they may try to sell their 40% share for $75 million?

<<3 billions pounds of copper at 80-100 cents per pound and a cost of 61 cents per pound. >>

My understanding is that the production cost was estimate to be US$45 cents per pound of CU. Where does the 61 cents come from?

b) Mahakam Project
I have also read both 4 and 6 poryphries. When they sink their first drill hole into one one these poryphries and if they trike minable ore over length, this stock will go ballistic. Doesn't hurt to dream a little. ;>}

Thanks for your post Mikey,

Best regards,
Ron E
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