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Gold/Mining/Energy : NORTHGATE EXPL (NGX.TO) -- Ignore unavailable to you. Want to Upgrade?

To: Elizabeth Andrews who wrote (113)	1/5/2003 1:02:39 PM
From: tyc:>	Respond to of 158

Thanks Elizabeth. So you think the other Sustut Zones will remain uneconomic and undeveloped despite the existence of the orepass ? I thought a higher grade supplement might help Kemess North, albeit marginally . But everything depends on metal prices and it's fruitless to speculate on them so far into the future.

To: Elizabeth Andrews who wrote (113)	1/24/2003 11:17:14 AM
From: tyc:>	Read Replies (2) \| Respond to of 158

I was recently speculating on the outcome of the Sustut feasibility study and its significance to NGX. I wonder if you have any feeling on the significance of the following quote from a recent Noranda news report concerning the Horne smelter. "Of particular concern to Noranda is the weak copper market and low treatment charges, which have slashed revenue at Horne by about 13 percent since last year and 45 percent over the last four years." "In the next three years, sources of concentrate from mines around Horne are expected to fall as mines become depleted and close." Do you think that the fall in availability of smelter feed and the resulting "low treatment charges" could be a factor in the feasibility study ? We know that Sustut ore will increase the grade of the concentrate.... and increase Kemess copper production by about 40-50%.