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

To: koan who wrote (1658)	5/29/2000 2:51:00 AM
From: hank2010	Read Replies (3) \| Respond to of 2255

Koan, Get your calculator out again. Andrew was talking about 1.5 grams per ton at $500/oz. and someone else mentioned 1.64 grams. Ernst & Young state that North American Palladium lost $.84 per share based on an average price of $358.00 or 71.6% of Andrew's criteria. However, their production was at a grade of 2.65 g/t Pd, .24 g/t Pt and .24 g/t Au. If we consider Andrew's 1.5 to be combined precious metals that is 208.6% of Andrew's grade criteria at 71.6% of his price.(and they still lost money). If we use the other figure of 1.64 combined it is still 190.8 % of Andrew's grade criteria. I have to agree with Andrew that it is uneconomic using the best example possible, the only primary North American open pit producer of Palladium/Platinum. I have followed this Lac Des Iles situation for a long time and I have heard aboutlots of positive feasibility studies etc. etc. but the proof is in the audited results. As Claude says it is too early to tell but if the grade or price does not improve it is not economic.