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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: Richard Mazzarella who wrote (9839)3/12/1998 4:58:00 PM
From: Tom Frederick  Read Replies (1) of 20681
 
Mr. Mazzarella, like I said, how much? Based on 500,000 tons and .2 opt, that equals 10,000 ounces. That equates to a ore value of $150 million at retail prices. If they have an extraction cost of $200 per ton, than the cost to extract that much is about $100 million giving them a $50 million dollar difference but that is at retail value. Now depending on how much it costs to get at the property, build the roads, etc., that may not be much.

If Naxos has 450 million ounces, at retail that's $135 BILLION minus even at $200 per ton costs or $90 billion leaving a mere $45 billion dollars on the table. And we haven't touched the PGM's or improved the Au recovery.

Now which property has the best chance of being profitable?

Just my thoughts.

Tom F.
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