Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: loantech who wrote (14169)	7/16/2003 1:33:50 PM
From: Stephen O	Respond to of 39344

Inmet Mng Cp: Inmet Announces Sale of Antamina Net Proceeds 2003-07-16 12:11 (New York) INMET MINING CORP ("IMN-T") NORANDA INC ("NRD-TDNPX3") - Inmet Announces Sale of Antamina Net Proceeds Interest to Noranda Inmet Mining Corporation announced that it has sold its 3.3 per cent net proceeds interest ("NPI") relating to the Antamina zinc and copper mine in Peru to Noranda Inc. for proceeds of U.S.$22.5 million. The sale was completed under a previously announced put- call agreement entered into between the two companies in February 2002. The full amount of these proceeds will be recognized as income in the third quarter. Inmet has sufficient tax losses to offset any taxes that would otherwise be payable. Inmet will use the funds received to pay down the remaining U.S.$19.5 million balance outstanding under its U.S.$40 million revolving credit facility. Richard Ross, Inmet's President and Chief Executive Officer said, "We are pleased to report that the value of the Antamina NPI has now been fully realized. The sale enhances our continued ability to finance our growth strategy". Inmet is a Canadian based international mining company. Inmet's mining operations and investments produce copper, zinc and gold, and Inmet's growth strategy is focused on finding quality base metal reserves. Inmet's operating base consists of four competitive mining operations: Cayeli, Pyhasalmi, Troilus and Ok Tedi. This press release is also available at www.inmetmining.com. TEL: +1 (416) 860-3974 Richard Ross, President and CEO ______________________________ ______________________________________________________________

To: loantech who wrote (14169)	7/16/2003 2:22:46 PM
From: aknahow	Read Replies (1) \| Respond to of 39344

Any that have as robust drilling program in an area that has already produced major discoveries? At least until the Boston holes, I am going to stick with Miramar The summer program results should become available in October at the latest and an announcement of additional drilling at Boston could be made in Sept if hole 3 and 4 are good.

To: loantech who wrote (14169)	7/16/2003 3:59:20 PM
From: E. Charters	Read Replies (1) \| Respond to of 39344

Gee whiz, loantech, that brokerage you work for must be looking to dump a pile of that Miramar they have accumulated over the past 4 years. You would think they had a gold discovery or something instead of a giant white elephant of a mine up in god's country. What ever became of Wally what's his piffle and all those PhD's they had working for them? Tight news means they haven't got much of it. Small discontinuous structures. Damoti Lake. But hey, anything's possible. Even Hemlo, with 688 feet of .30 ounces. or the McLeod Mosher F zone with 150 feet of .50 ounces. The Lakeshore main zone, of 30 feet of 0.50 ounces. Or the McIntyre with 600 feet of 0.25 opt. (Yes, those were historical widths, not lengths. And the Detour Mine, in Timmins with 1.5 million ounce mineable left in it, had some of the largest open stopes ever mined in a gold mine in CDN history. If Dome had not mined it, but a junior it would have been front page Stockwatch news.) Somehow I don't think they will hit that. There was only one Hemlo. Good luck with it. It is a skillful SI promotion, like many of the promos we see here. 2 dollar stocks, and 1.50 potential, but it's "to the moon alice". I guess you have to sell your stock to somebody at the peak price. :) If you want to take a look at a company with a chance of hitting the big one, and investment grade potential, take a look at KGI. Their average drill intersections is over 200 dollars CDN over mining width. And they stop at (they hope) 20 million ounces, which would make them the third largest AU mine in North America and one of the 20 largest gold mines in the world. But hey.. it's narrow vein and it's in Ontario, so we can ignore it. EC<:-}