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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: GlobalMarine who wrote (16267)	9/14/1998 11:07:00 PM
From: knight	Read Replies (2) of 20681

Rand, this might help: Based on a confirmatory feasibility study completed in March, 1997 by Bateman Engineering Inc. of Tucson, Arizona, specialists in engineering of copper projects, Laminco can produce cathode copper at an operating cost of $US 0.494/lb. Total capital cost of the Luz del Cobre Project is estimated by Bateman at $US 19.3 million, including $US 14.2 capital cost and $US 5.1 million for prestripping, working capital, administration and contingencies. Current mineable ore reserves at Luz del Cobre are 10.2 million tons at an average grade of 0.875 % copper at a cutoff grade of 0.22 % copper. The average strip ratio is less than 1:1. Taken from a Laminco release June 4/97.

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