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Gold/Mining/Energy : CUMBERLAND RESOURCES (CBD) -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (175)	4/27/2000 9:49:00 AM
From: Claude Cormier	Read Replies (1) \| Respond to of 393

Hello Russwinter, The numbers are somewhat disapointing. I would have hope for a cost closer to what the scoping study suggested a few years ago, below $170 with CAPEX below US$80M if I remember. It will take time, but they will get what they need. There are several close targets near Meadowbank that have excellent potential for development of new resources, some possibly much larger than Meadowbank. Their other project with WMC with its higher grade and better open pit profile should show better numbers. They have 22% of a growing resource now at 6.5M ounces with a grade of 8g/t gold and they are carried to production. So over all, the news, although neutral for the short term, is positive for the long term.