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Gold/Mining/Energy : Bema(Bgo) and Arizona Star -- Ignore unavailable to you. Want to Upgrade?

To: IngotWeTrust who wrote (10390)	5/20/2002 2:17:06 PM
From: marek_wojna	Read Replies (1) \| Respond to of 10482

<<There is NO silver premium in BGO pricing...you can quote me.>> Have a different view on the subject of silver in BGO pricing, and over the future price of silver. Julietta (page 2) \| The new development plan optimizes cash flow from the operation by scheduling the most profitable ore in the early years of the mine life. In the first year of production the Julietta Mine is projected to produce over 140,000 ounces of gold and approximately 2.4 million ounces of silver, with cash operating costs per ounce of gold, net of silver credits, estimated at $25 per ounce and total cash cost per ounce of gold estimated at $70. This represents a 31% increase in the first year’s gold production from the previously announced development plan projections. Over the first four years of production the new plan estimates average annual production of approximately 100,000 ounces of gold and 1.7 million ounces of silver. Cash operating costs per ounce of gold, net of silver credits, are estimated to average approximately $56 per ounce and total cash costs per ounce of gold are estimated at $100.