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Gold/Mining/Energy : Franco-Nevada (FN - TSE) - zero debt, cash rich royalty co. -- Ignore unavailable to you. Want to Upgrade?

To: Tom Gordon who wrote (437)	5/21/2001 4:14:47 PM
From: Traveling Man	Respond to of 511

Tom, Forward selling would be the absolute most shortsighted move a company could make right now. Did you notice the actions of Normandy to wipe out their hedge program? That's good. TM

To: Tom Gordon who wrote (437)	6/6/2001 4:07:14 PM
From: Traveling Man	Respond to of 511

Franco-Nevada Announces Receipt of Pandora Royalty Payment from Anglo Platinum TORONTO, June 6 /CNW/ - Franco-Nevada Mining Corporation Limited (TSE:FN) announced today that a cheque had been received from Anglo Platinum for the minimum royalty payment, relating to the Pandora platinum deposit in the Bushveld Complex of South Africa, payable for the period from April 1, 2001 to March 31, 2002, thus acknowledging the validity of the royalty. Franco-Nevada has a 5% net profits interest in the 17,193 acre Pandora property in the western Bushveld area of South Africa. On March 29, 2001 Anglo American Platinum Corporation (Angloplats) and Lonmin Platinum announced they would form a Joint Venture to develop Pandora. The project is to be fast tracked by using Lonmin's neighbouring Eastern Platinum infrastructure. Angloplats/Lonmin estimate that at full production, Pandora will produce annually 230,000 ounces of platinum, 110,000 ounces of palladium and 100,000 ounces of other precious metals. (440,000 ounces of PGM's and gold per annum.) Cash costs are estimated at US$215 per ounce of PGM for an operating margin of 53%. Capital cost is estimated at US$175 million. Angloplats/Lonmin estimate total probable reserves and indicated resources at 136 million tonnes grading 4.51 grams per tonne PGM's for 19.7 million contained ounces. At a planned operating rate of 3.8 million tonnes per annum, mine life is expected to exceed 30 years. Some immaterial production is expected in 2002 with a steady build up to full production in 2007. -30- For further information: M. Craig Haase, Executive Vice President and Chief Legal Officer, Tel: (775) 829-9105; Sharon E. Dowdall, Vice-President, General Counsel & Secretary, Tel: (416) 480-6491 FRANCO-NEVADA MINING CORPORATION LIMITED has 28 releases in this database.

To: Tom Gordon who wrote (437)	6/12/2001 8:45:41 PM
From: Traveling Man	Read Replies (1) \| Respond to of 511

Gents, Just finished reading the entire 2001 annual report. One thing that sticks out. FN has decided that they cannot grow the earnings any longer with the old royalty deals of the past due to the extreme depression in AU POG. Thus,their strategy from here into the intermediate future will be to repeat their Normandy deal. They use a small quote of Warren Buffet about purchasing "uncontrolled" parts of prosperous companies. Bottom line,management has decided to purchase non controlling interests in the future of profitable commodities players. They feel it will lead to great wealth expansion over time. TM