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

To: Stephen O who wrote (293)	2/24/2000 7:50:00 AM
From: Dan P	Respond to of 385

Nice rebound in the stock yesterday, and it looks to be headed higher. Copper is cooperating, and the near-term future is over $.84 a lb. Regards Dan

To: Stephen O who wrote (293)	3/1/2000 7:46:00 AM
From: Dan P	Read Replies (1) \| Respond to of 385

News release: Projections on copper production First Quantum estimates 2000/2001 production First Quantum Minerals Ltd FM Shares issued 24,656,037 Feb 28 close $3.70 Tue 29 Feb 2000 News Release Mr. Clive Newall reports First Quantum has made its copper production forecast for 2000 and 2001. Following the closing of the acquisition on of ZCCM's Mufulira division and the Nkana mines concentrator and cobalt plant, First Quantum estimates attributable copper production in 2000 will increase to 82 million pounds at a cash cost of 52 U.S. cents per pound, net of cobalt credits, acid and smelter revenues. Attributable copper production is expected to further increase in 2001 to 124 million pounds at a cash cost of 49 U.S. cents per pound, net off cobalt credits, acid and smelter revenues. Attributable cobalt production for 2000 and 2001 are forecast at 1.7 million pounds and 2.1 million pounds respectively. In addition, First Quantum will produce approximately 23,000 ounces of gold in 2000 and 2001 from the Connemara mine in Zimbabwe. Attributable Copper Production 2000 2001 -------------------- ----------------- Copper Cost Copper Cost Production (U.S.$ Production (U.S.$ (millions /pound) (millions /pound) of pounds) of pounds) Bkwana Mkuwba Mine 21 $0.10 21 $0.10 Nkana Mine 29 $0.62 53 $0.49 Mufulira Mine 32 $0.71 50 $0.65 ----------------------------------------- Total 82 $0.52 124 $0.49 Copper cash costs are calculated net of cobalt credits, acid and smelter revenues. Production and cash costs for 2000 assume eight months of production from Mufulira and Nkana beginning April, 2000. First Quantum's year-end is November. (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com