Geodex Resources - GXM.V (was Agate Bay ABE) Message Board

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Gold/Mining/Energy : Geodex Resources - GXM.V (was Agate Bay ABE)

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To: GWalker who wrote (2)	11/4/1996 6:19:00 AM
From: Gabe Heti	of 210

Graham I think the big problem here is the grade of ore. At .64% it is only marginally economic, if at all. More information would be useful on whether based on indicated reserves and stated grade, the property can be profitably mined. The key is their proposed method of extraction, "solvent extraction and elctrowinning (SX/EW). The person I talked to mentioned something in the order of $0.58 per pound. With copper prices in the 80s and factoring in the cost of developing a smelter etc. that doesn't leave much room. The total recoverable copper is around 750 million tons, futher limiting the up side. Gabe

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