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

To: GeoDude who wrote (2444)	3/14/2002 1:19:21 PM
From: Claude Cormier	Read Replies (2) \| Respond to of 39344

LIA, I like MFL very much. My favorite highly leveraged gold/silver play. It is more leveraged and has more potential than BAY with higher metal prices. But I don't think it is worth US$7 right now. I don't think that it is a go as it stands now and at currrent metal prices. Not far from it, but not yet. At current metal prices BAY is a better project and a go. It has much lower CAPEX, better mining characteristics (recovery rate and process, high grade starter pit, topography, stripping ratio). Overall, BAY has a IRR of 50%+ while MFL is sub 25% at current metal prices. As well, MFL needs a lot exploration more work to complete Dolores to bankable feasibility, while BAY is likely to be the #1 pure silver producer in the world, by the end of 2003 (assuming silver prices to remain in the current range or higher).