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

To: Claude Cormier who wrote (1104)	5/26/2001 6:11:32 PM
From: baystock	Read Replies (1) \| Respond to of 4051

Anyone like Aurizon (ARZ.TO) ? They have 3 million oz resource at their 100% owned Casa Berardi project in Quebec. The feasibility study showed that for $80 million capital cost they can build a 200K oz per year mine with $145 per oz cash cost. Negatives: they have Canadian $4 million debt due in August. But they just realized $1.6 million by selling one of their assets to Richmont. And I think in this rising gold share market they should easily be able to raise the other $2.5 million by August. Positives: Market cap of ARZ is only US$12 million (and C$4 million total debt). They have a track record as a producer and I think if gold price goes over $345 they can swing the Casa Berardi project on their own with a mix of debt/equity financing. Casa Berardi is in the Abitibi region of Quebec which is one of the most stable and mining friendly places in the whole world. Cash cost of $145 an oz at Casa Berardi means that at $345 gold price the entire capital cost can be paid back in 2 years. Both pro and con feedback are welcomed.