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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: marynell who wrote (280)	10/23/2001 10:25:05 AM
From: Claude Cormier	Read Replies (1) \| Respond to of 39344

Marynell, Although the final numbers will be in only in the next quarter Corner Bay current mining plan is as follows: Year 1 & 2: 17.5+ million ounces of silver equivalent per year at a cash cost near $1.50 Year 3 - 5: 8.5+ million ounces of silver equivalent per year at a cash cost near $3.00 To answer your question, In year 1 and 2, it would be near $1.85-$2.00, in year 3-5 it would be near $3.40+ Beyond year 5, BAY nead $5 assuming that no other reserves are developed and the mining plan doesn't change. But given the existence of a high grade feeder zone that will be explore and develop in later years, it make no sense to speculate beyond those first 5 years. LOM cash cost are currently estimated at $3.00/oz. Keep in mind that the recently announced higher recovery rates as well as the currently lower silver prices will likely change these numbers.