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

To: TheBusDriver who wrote (5291)	6/3/2002 11:11:40 AM
From: Canuck Dave	Read Replies (1) \| Respond to of 8010

Silver busting out. You see the COT statistics this week? Commercials added to their short positions and are now short 92K contracts (460 million ounces!). AND YET spot silver keeps rising. Something has to give, and probably sooner rather than later. CD

To: TheBusDriver who wrote (5291)	6/3/2002 12:19:44 PM
From: Claude Cormier	Respond to of 8010

<Can we do any NAV calculations based on what we already know?> Too early... we need at least a drill indicated resources.. Now we have this only in the inferred category. We will know more by the end of the summer once their two phases drill program is completed. But this could be 6-7 times bigger than BAY's Alamo Dorado and 2-3 times bigger than the Minefinders and Cumberland in terms of $ value of the metals. It is too early to conclude on the economics of this project. But the company worked some numbers with gold at US$280, SIlver $4.50, Zinc $0.45, Lead 0,23 and withouth including the benefit of HMS and they came up with a positive IRR near 10% at that time. This was very early work and should not be considered as valid... but it gives an indication.