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Gold/Mining/Energy : Pacific North West Capital Corporation-PFN on Alberta -- Ignore unavailable to you. Want to Upgrade?

To: Frank Ferrari who wrote (1553)	5/9/2000 12:53:00 PM
From: Elizabeth Andrews	Read Replies (2) \| Respond to of 2255

I'm sure Amplats did a lot of work on those samples but what were the results? 60% of 5 grams is better than 90% of 2 grams. 70% recovery or so is the most likely number. This deposit averages about 1.7 grams so the net would be 1.19 grams which is US$17 rock in the ground. All I'm saying is that this may be a bit low. If the recoveries are expected to be 90%, and given the current grade after all the sampling and drill holes, don't you think management would make an effort to get the 90% recovery factor known as this is now important given the low grade of the holes? A 90% recovery improves the metal recovered by 30%. It changes the value of the in-situ resource from $17 per ton to $22.25 or so. That's a big difference in marginal deposits like this one appears to me. 10% to 30% of the metal value in the rock may stay in the tailings. It makes a big difference to the economics of this project.