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Gold/Mining/Energy : Sunshine Mining at Rock bottom? -- Ignore unavailable to you. Want to Upgrade?

To: baystock who wrote (128)	8/3/1999 11:06:00 AM
From: Claude Cormier	Read Replies (1) \| Respond to of 167

<< I don't think any of Sunshine's press releases are really clear on this issue and the company has not responded to my e-mail inquiry.>> You are right...it ain't clear crystal. BUT IMO, Tin and low grade zinc revenus are included. The NR dated April 26th seems to indicate it in the sensitivity analysis of silver and tin prices where an IRR of 20.3% in the base case with silver at $5.50 and tin at $5600/t. BTW, I think tin revenus will be less than 50% of silver revenus. I haven't seen the numbers..but the ratio in the reserves is near $1 of tin for $2 of silver. Production should a bit lower given recoveries of 78% for silver and 63% for zinc. IMO< the only metal production not include in that feasibility ($1.50 cost for silver) us the highgrade zinc production from the halo.