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Gold/Mining/Energy : first quantum minerals FM on TSE -- Ignore unavailable to you. Want to Upgrade?

To: len seabrook who wrote (253)	9/28/1999 12:21:00 PM
From: keith schaefer	Respond to of 385

Head Office Contact: Keith Neumeyer or Geoff Chater UK Office Contact: Clive Newall 450-800 West Pender Street 4 Kings Court, Harwood Road Vancouver, British Columbia, V6C 2V6 Canada Horsham, West Sussex RH135UR, United Kingdom Tel: (604) 688-6577 Fax: (604) 688-3818 Tel: 44 (0) 1403 273484 Fax: 44 (0) 1403 273494 email: geoff@first-quantum.com email: clive@firstquantum.demon.co.uk Quick FACTS September, 1999 www.first-quantum.com VSE SYMBOL ?FM? 12G3-2B-82-4461 LISTED IN STANDARD & POOR?S SEDAR PROFILE # 00006237 SHARE PRICE RECENT PRICE CDN. $1.15 52 WEEK RANGE CDN. $0.54-$1.74 DIRECTORS & OFFICERS PHILIP K.R. PASCALL, CHAIRMAN G. CLIVE NEWALL, PRESIDENT MARTIN R. ROWLEY, CFO MICHAEL D. PHILPOT R. STUART ANGUS ROBERT A. WATTS SHARE CAPITAL ISSUED 24,656,037 WARRANTS @ $0.85 1,500,000 WARRANTS @ $2.25 1,000,000 OPTIONS avg. $2.03 1,990,000 FULLY DILUTED 29,146,037 CASH ON HAND $2.0 MILLION CASH (FULLY DILUTED)$7.0 MILLION MAJOR SHAREHOLDERS MANAGEMENT 21% BWANA MKUBWA COPPER MINE (11/30/98) PROVEN RESERVE 102 million lbs (7.4 MT @ 0.726% Cu) CONNEMARA GOLD MINE (11/30/98) MEASURED RESOURCE 200,000 OZS (3.2 MT @ 1.95 G/T AU) (INCL. PROVEN RESERVES) PROVEN RESERVE 152,000 OZS (2.4 MT @ 1.97 G/T AU) First Quantum Minerals Ltd. is an emerging Canadian mining company focused on the copper and gold sectors in Africa. The Company operates the 100% owned Bwana Mkubwa Copper Mine in Zambia and the 95% owned Connemara Gold Mine in Zimbabwe. In 1999, production is forecast at 21 million pounds of copper, 21,000 ounces of gold and 70,000 tonnes of surplus sulphuric acid resulting in revenues from operations of US $33 million. First Quantum will pursue growth as a profitable diversified mining company through the identification, acquisition and development of additional low cost mining projects that complement the Company?s existing portfolio. (All figures in United States dollars) Six Months Full Year Full Year 1999 1999 2000 Production Summary (actual) (est.) (est.) Copper Production (million lbs) 10 21 21 Surplus Acid Production (tonnes) 31,257 70,000 70,000 Gold Production (ozs) 8,136 21,000 24,000 Consolidated Operating Summary (million) Revenues 15.9 33.0 33.0 Cost of Sales 8.6 16.0 15.0 Cash Flow From Operations 7.3 17.0 18.0 Earnings / (Loss) (1.9) 1.0 3.0 Per Share Data Shares outstanding (million) 23.0 25.0 25.0 Cash Flow From Operations (cents) 0.32 0.68 0.72 Earnings (Loss) Per Share (cents) (0.08) 0.04 0.12 Bwana Mkubwa Mine, Zambia, Copper Production Copper Revenues (million) 7.6 15.3 15.8 Cost of Copper Sales (million) 4.0 7.5 7.1 Cash Flow From Copper Operations (million) 3.6 7.8 8.7 Copper Price (cents lb) 0.76 0.73 0.75 Cash Operating Cost Copper (cents lb) 0.40 0.37 0.34 Cash Flow From Acid Operations (million) 3.3 7.5 7.5 Cash Operating Cost Copper, less Acid Revenue (cents lb) 0.07 0.00 (0.02) Connemara Mine Zimbabwe, Gold Production Gold Revenues (million) 2.4 5.9 6.4 Cost of Gold Sales (million) 2.6 4.4 4.4 Cash Flow From Gold Operations (million) (0.2) 1.5 2.0 Gold Price ($/oz) 293 279 265 Cash Operating Cost Gold ($/oz) 320 207 182 Cash Cost Gold, ($/oz) 353 240 215 Total Cost Gold ($/oz) 410 297 272