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Gold/Mining/Energy : Gold and Silver Mining Stocks -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (621)	3/1/2001 11:52:04 PM
From: Claude Cormier	Respond to of 4051

Well they need to work it out more. But I know that they have a low cost starter pit at around $145 good for one year at Meadowbank. The average is currently at a cost of $196..which is a bit high. Meliadine is only 28% of their gold resources and they are carried to production... I don't think that any preafisibility numbers have come out from this project. But I suspect it will be much lower than Meadowbank. We will see what WMC will spend this year..but with 4.6M of higher grade gold... it has to come in all right. Meadowbank is slowly growing and with a new phase on Vault this spring... there exist the potential to move the project to 3M ounces if not more. With their market cap and more close to $8M in current asstes of which $5M are cash... We have to like it, not because it is likely to go into production at gold $265, but because it has immense leverage at gold +$300.