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Gold/Mining/Energy : Minefinders, MFL -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (255)	1/13/2001 10:04:09 AM
From: russwinter	Read Replies (1) \| Respond to of 578

I find it interesting and revealing that Echo Bay would be buying shares in this PP. Doesn't say how much but according to my notes they owned 25% of outstanding before this offering. Don't know much about ECO, but in looking over quickly they seem to be stable operationally but a bit overleveraged. I wonder what their role will be regards future development of Delores? Could they take out the rest, or carry it to production for a bigger percentage? They didn't go to the typically institutional sources on this either, but to Prudent Bear Fund, a party likely to have strong hands. Pretty shrewd placement IMO, just unfortunate that it had to be at giveaway prices.

To: Claude Cormier who wrote (255)	6/23/2001 10:46:06 AM
From: russwinter	Read Replies (1) \| Respond to of 578

Claude, please double check my calc if you haven't done these already on the new silver recoveries at Delores. We're really talking mostly on the oxide material, with actually 50% higher recoveries. Oxides constitute a third of the silver at Delores or 500,000 Au eq. So we get another 250,000 oz/13 year mine life, about 20,000 to the 250,000 Au eq annual output. That's 8% additional at no extra cash cost. Old cash cost was 152, new one would be 140. Look right? That's a crucial difference in this environment. This one gets pushed towards the superlative category. They haven't even gone after the high grade feeder material deeper. minefinders.com What do you think about Real Viejo? Would it be big enough?