Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Winter in the Great White North -- Ignore unavailable to you. Want to Upgrade?

To: tyc:> who wrote (501)	3/31/2001 7:36:44 AM
From: tyc:>	Respond to of 8273

It's Annual Report season Here are a couple of items from Annual Reports that raised my eyebrows. I have alluded to these projects before. They are of such magnitude that they deserve a second mention. Page 6 of Inmet Mining's report; Izok Lake; ..."The government of Nunavut has completed a transportation study, which identified the need for an all-weather road from Bathurst Inlet to Izok. A feasibility study on the road and port is planned to commence in 2001, which, if positive could set in motion the future development of Izok." (wchen says: A feasibility report on the mine was completed in 1994. Project was shelved because of lack of infrastructure. The deposit has an indicated 16,500,000 tonnes of 11.4% Zn, 2.2% Cu, and 60g/t silver, mineable by open pit. Antamina: Page 11 Of Teck Corporation's report; "Construction of the new Antamina mine is expected to be completed by mid year and it should achieve design capacity by year end". Page 25 of Inmet's report; "The above net book value summary (showing a net book value of $4.49 per share.wchen), does not include any value associated with Inmet's 3.3% net proceeds interest in the Antamina project...... The net proceeds interest is notionally equivalent to 3.3 per cent of the cash flow available to the shareholders of Compania Minera Antamina S.A., which owns the project, after the shareholders have recovered their equity in the project. wchen says " I've just looked up the OED definition of the word "notional". I read; "Speculative, not based on experiment or demonstration; (of things, etc), existing only in thought, imaginary." If ever a word could emasculate meaning, that one can. But I am confident this interest in Antamina is more than speculative.