Int'l Pursuit (T.IPJ) Message Board

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Gold/Mining/Energy : Int'l Pursuit (T.IPJ)

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To: Mikey who wrote (672)	4/20/1998 7:40:00 PM
From: Ron Everest	Read Replies (1) of 835

Mike, Read in the Saturday Financial Post that three copper mines and lead smelting operations were suspended by Gold Fields Namibia Ltd. in Namibia due to falling CU prices. It would seem that CU at US 80 cents cannot sustain a good number of mines and could well be considered a support level in today's environment. Falconbridge also pulled out of a project in Zambia. This is not negative to the Minoro deal IMO as they have costs projected at US 40 cents for the first 4 years and with all costs in US 56 cents. The payback period is stated as 10 months in the Feb 12 98 scoping study release......10 month pb is outstanding. This bodes well for the Apr 30th Minoro close date IMO. Best Regards, Ron E

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