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Gold/Mining/Energy : Waseco Resources Inc.

WSCO 1.300

0.0%

Dec 24 4:00 PM EST

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To: Dave Tan who wrote (53)	3/5/1998 5:39:00 PM
From: Dave Tan	Read Replies (1) of 60

$93 new cash cost estimate for Tewah!!! Payback estimated in 3 years by Alcon. Waseco has found 2 dredges they can lease/buy, one in thailand and one in malaysia. Still waiting for govt approval. One thing that baffles me is the low share price. 60% of 30,000 ounces per year (1 dredge) x ($293-$93-$50 admin = $150 profit) = $2.7 million => which is about half of Waseco's total market capitalization????

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