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

To: Karl Zetmeir who wrote (4019)	2/16/2000 6:12:00 PM
From: Claude Cormier	Respond to of 4504

<<Looking over the drill results ... I see AU at about 3 g/t or .1 opt>> Well they average close to 6 g/t gold equivalent. <<I've always thought gold mining need .05+ opt to be at breakeven>> Nope... There are breakeven operations with a gold grade of .02-.03 opt now. Glamis is even starting a new one with a grade lower than that. If you read my reports last year you know they acquires Mar-West and the San MArtin deposit where the grade is below 1g/t. The cost will be below US$150/ounce. <<I always thought CU needed to be at 2% or better ... may be much better with the current price of copper. >> Nope, there are breakeven and profitable ops with CU lower than 1%. << So I guess this, along with other recoverable metals, TG should be reasonably profitable.>> I'd say extremely. << What revenues per ton have you ascribed to TG? >> Well the TG-1 sulfides where in the US$55/US$65 range per ton last time I did the maths...and costs estimates are in the $12-$15/ton range. The TG-1 gold cap will be in the US$60/ton with costs probably below $4/ton. The costs of removing the town and diverting the river are estimated at US$50 millions which comes up at US$30-$40M per ounces of gold on the oxidized cap. CC