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To: Alex who wrote (58729)	9/22/2000 1:13:11 PM
From: goldsheet	Respond to of 116762

Thank you.

To: Alex who wrote (58729)	9/22/2000 1:58:23 PM
From: goldsheet	Respond to of 116762

I can see where I have a difference of opinion, because there is a range of numbers presented and he stresses the high side, while I think the low end is possible. Also, he puts in about $100 to develop his replacement cost number, which includes profit, tax, and exploration funding. A reasonable person could accept a lower IRR than he uses, and still have a project with a high enough IRR to be developed. Obviously, all 10 projects he uses are moving forward to production, so the companies must have the math work for them. Cash costs: 144-214 Total Costs: 204-296 Replacement Cost: 295-408 If you take today's gold price ($272) less the low end of total costs ($204), you have a $68 gross margin. Put $20 away for exploration, and you are left with about $34 of after-tax profit and $14 to cover taxes. Not exciting, but the math can work out.

To: Alex who wrote (58729)	9/24/2000 2:06:11 AM
From: long-gone	Respond to of 116762

BBC Tuesday, 19 September, 2000, 10:32 GMT 11:32 UK Coffin rumours cause uproar in Mali The rumour spread across Mali causing public anger By Joan Baxter in Bamako A coffin containing the body of a dead South African mine worker has caused embarrassment for the Malian Government. The local press claimed that the coffin was far too heavy to contain just a body, amid rumours that it was being used to smuggle out gold. And at one stage, the armed police were forced to intervene at a morgue, as what appeared to have started off as a mere rumour threatened to degenerate into chaos. Many in Bamako still doubt the official story Such was the public uproar over the coffin, that a news conference had to be summoned to calm the rumours. Modibo Coulibaly, Mali's director of geology and mines. berated the newpapers suggesting that a 100kg coffin could not suddenly weigh 300kg. He then went on to explain the story, which he said had threatened Mali's normally good relations with South Africa and investment in the country's gold mining sector which is Mali's second most important export, after cotton. Rumours According to Mr Coulibaly, the incident started in Kayes, on 1 September, when a South African national working for MAED offshore company on a new gold mine in the region was found dead in his room. Gold is Mali's second most important export The police determined that he had died of natural causes. The body was then taken to a clinic at the nearby Sadiola Gold Mine, and placed in a coffin, with authorisation and supervision from Malian police, doctors and customs officials. Later, the coffin was then flown to the capital, Bamako, for repatriation to South Africa on an Air Afrique flight. Human remains That flight was delayed, and once again, the coffin had to be moved to a refrigerated morgue, this time at the Gabriel Toure Hospital in the capital. This is when trouble began as rumours circulated at the hospital that the coffin was too heavy to contain human remains. Word had it that the coffin held 300kg of gold that was being smuggled to South Africa. The private press in Bamako quickly picked up the rumour and ran with it. 'Coffin X-rayed' Crowds then surrounded the morgue, preventing the company's officials from taking possession of the coffin and demanding it be opened. The police eventually came to disperse the angry mob with teargas, and the coffin was whisked away to the airport. Mr Coulibaly pointed out that when the coffin was X-rayed at the airport, it contained the body of a man, and its total weight was only 153kg. And yet, despite the official chastisement of the press for spreading "wild rumours", they are continuing to dispute the official version of the story of the now-famous coffin - saying that "to doubt is a patriotic act". news.bbc.co.uk