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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: Randy Giese who wrote (1358)1/13/1997 7:25:00 PM
From: Alan Vennix   of 35569
 
Randy, it's a good question but it's hard to make a comparison. The tar sands in Canada have been produced by two different methods, both of which are operationally very costly with small margins highly dependent on oil prices.

Surface mining is a huge operation with unbelievably large (and costly) handling and processing equipment. In-situ operation requires steam generators to inject steam in some wells and produce (hopefully) tar from other wells; again, a very costly operation. Technology in both cases focused on how to do it in the least expensive, most effective way.

Production of micro-fine gold and PGM's will require (relatively) less costly equipment and operations (remember, tar value was less than $20/bbl, about 5 cents a pound, while gold is valued at over $350/OZ). Main emphasis on micro-fines is developing effective technology on how to recover the metals from the sand/clay matrix.

AL
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