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Gold/Mining/Energy : Western Copper Holdings Ltd. T.WTC
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To: rdww who wrote (322)6/29/1998 2:54:00 PM
From: Elizabeth Andrews  Read Replies (2) of 401
 
They've definitley got more money than me. When they get a permit for the San Nicolas and they announce that project financing is in place I'll believe it. Everything I look at suggests that the returns are marginal even with higher metal prices. Teck doesn't have much at stake here. By the way the cost for (rock) overburden removal is typically US$0.50 per tonne. It'll be higher in this case because of the depth of the haul. They may have meant US$0.70 per tonne. As I've suggested this amount of front end cash (US$100 million?) and the poor recoveries and the fact that the proposed mill circuit appears to produce several concentrates based on the met studies are not positives for the economics.
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