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Gold/Mining/Energy : ECHARTERS

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To: E. Charters who wrote (2570)	5/7/1998 1:49:00 PM
From: Michael Bidder	Read Replies (1) of 3744

Mr. Charters This is the first time I have read your thread. Thankyou for sharing your knowledge. Could you comment on the following regarding Kemess economics? My belief is that the project is fundamentally flawed. I assume that Kemess must have a state of the art grinding operation for this type of operation. However I understand that semi-autogenous grinding mills can consume metal in the form of crushing balls or the like. These parts are an expensive part of a milling operation if the rock is hard. Expensive to buy and to transport if the operation is remote. Werner Nennecker, President of Bankrupt Pegasus Gold, said during a conference call that the Mount Tod grinding operation was not able to meet design specifications and therefor was run at a higher speed to increase throughput. This had the adverse effect of increasing maintenance costs. I assume the consumption of metal balls and associated milling parts. Also electrical consumption was increased. Is it true that in a large marginal bulkable type operation if one phase of the operation doesn't meet design specifications then the end result, can be disastrous to the bottom line? Thanks, -Michael Bidder

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