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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: Henry Volquardsen who wrote (16262)9/15/1998 11:15:00 AM
From: Kim W. Brasington  Read Replies (1) of 20681
 
Henry:

The projected internal rate of return @ $.76 copper is 11%. The projected internal rate of return @ $1.00 copper is 30%. These rates of return are based on lower cost estimates than the Bateman report stated, because of the option of a JV with Laminco and projected cost savings on equipment, and in other areas.

CPM and other analysts believe that the price of copper will rise to about the $1.00 level sometime within the next year or so. Since the drop in the price of copper was fast, it caught some companies unprepared and they had to shut down their mines.

Regards,

Kim W.
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