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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (93641)	8/13/2001 11:51:40 AM
From: Frank Pembleton	Read Replies (1) \| Respond to of 95453

Tommaso, it depends on the mineralisation zone and where they're at with it. I don't see these numbers as a static entity, and besides the "La Herradura" mine has reserves of only a millions ounces. Reserves as of December 31, 2000 were 1.3 million ounces (575,000 equity ounces). Since Newmont is one of the biggest gold producers in the world, maybe you could tell this group about the rest of their properties and what the average cash cost really is. Regards Frank P.

To: Tommaso who wrote (93641)	8/13/2001 4:30:10 PM
From: t4texas	Respond to of 95453

$136 to $231 nem reports total cash costs for its various mines for this past quarter anywhere between $136 and $231 per ounce. nem also states it is trying to have an average cost of $180 per ounce for the 2001 year. these numbers are the operating cost of production and don't include things like cost of discovery and all the other expenses of running the nem operations. you can find details in the nem press earnings press release. notice that nem loses money at these cash costs.