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Gold/Mining/Energy : Manhattan Minerals (MAN.T) -- Ignore unavailable to you. Want to Upgrade?

To: mineman who wrote (2667)	6/29/1999 5:27:00 PM
From: KipferlMeister	Read Replies (2) \| Respond to of 4504

<<which will need continual removal of 15 m (50 ft) of overlying rock.>> The last press release said the iron cap was covered by "sandy overburden." This hardly sounds like something they'll have a tough time "blasting" through, or would be prohibitively expensive to remove.

To: mineman who wrote (2667)	6/29/1999 6:35:00 PM
From: Jeff Dickson	Respond to of 4504

Indonesia's Grasburg has increased production to 280,000 tons per day at 1.5% copper!!! Small potential producers like Manhattan will therefore find it literally impossible to show investors they can make any profit from underground low-tonnage operations. Manhattan doesn't just take land, like what happened to the Amungme at Grasburg. Interesting bit about Grasburg and Freeport in the June 7 issue of Time.

To: mineman who wrote (2667)	6/29/1999 8:42:00 PM
From: Claude Cormier	Respond to of 4504

<<Geomaque is a thick zone where the initial strip ratio during the start-up pay-back period will be less than 1:1, whereas the Tambo Grande is a 4 to 18 m (13 to 58 ft) relatively thin zone which will need continual removal of 15 m (50 ft) of overlying rock. >> Got the 300 holes at Vueltas del rio here. looking at them shows that the average intercept is no larger than MAN. Grades are roughly 50% lower than TG. Size about the same 700m x 300m. MAN is 5-6M tons with uncut 7g/t gold equivalent. GEO' high grade is 5M tons with uncut approx 3.5 uncut. The difference is that MAN has 1 layer of approx 18M oxidized stuff.. GEO has two or 2 layers and more of oxidized stuff and sulfides stuff where recoveries are 80%+ on the oxydes and 70%+ for the sulfides ..for an average of 74%. The layers are separated by non-mineralized schist... that is why the 3.4:1 strip ratio. Looks to me like MAN's situation is much better with a lower strip ratio by far. They remove the 15-20m overburden which is probably mostly sand and mine the whole 18m cap as a block for a 1:1 - 1:5 strip ratio. <<Copper is destined to stay below $.70/pound for at least over 10 years >> The kind of forecast that make's me laugh. You see what happened to BHP this year...well you gonna see a lot more closure. And as in all business cycles, inventories will come down and prices will move up. Maybe you are calling for a global depression ? <<Small potential producers like Manhattan will therefore find it literally impossible to show investors they can make any profit from underground low-tonnage operations.>> First.. TG is open-pit.. medium tonnage.