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Gold/Mining/Energy : Barramundi Gold -- Ignore unavailable to you. Want to Upgrade?

To: zebity who wrote (84)	9/12/2000 11:11:24 PM
From: zebity	Read Replies (1) \| Respond to of 99

Barramundi Acquires Mine! Here is a reference to URL on Barramundi acquisition of mine: biz.yahoo.com Also BAM is calling for tenders for the mining of "Swede's Pit" Longline resource, which has around 20,000 oz's. These mining projects should start to provide the company with some much needed cash flow. Here are some figure based on mining and extraction cost of 240. Why bother: 240 => (240 - 240) * 20,000 = 0 M Worst (Current): 270 => (270 - 240) * 20,000 = 0.6 M Likely: 350 => (350 - 240) * 20,000 = 2.2 M Possible: 500 => (500 - 240) * 20,000 = 5.2 M Speculative: 600 => (600 - 240) * 20,000 = 7.2 M These figure from 350 - 600 are not so far off the mark as Barrick currently claim to forward sell at an average of 450/oz. Also if leased gold availability declines and short covering must take place then speculative scenario is quite likely. As the leasing is presumably coming from Central Bank's it will not be possible to quell this by "tapping reserves" (as proposed for the current oil price increase) as the reserves have already been tapped. The figure of $ 600.00 is that projected equilibrium prices based on supply/demand analysis. (see gold-eagle.com) Why oh why - did BAM not pursue mining on Swede's pit 12 months ago... This new direction by BAM management is to be applauded as mining is the only avenue available to provide cash flows to support exploration ambitions and get some returns on investment.