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To: loantech who wrote (5059)	2/28/2004 11:21:45 AM
From: austrieconomist	Read Replies (1) \| Respond to of 313967

jumping in. NNO has a 12.5% piece of the producing Alumbrera mine and is projected to receive $25 million from a year of production. This would make about $.25 share in cash flow. Price of NNO about C$3.45. WHT has a 37.5% share in the Alumbrera mine. NNO has a 100% share in and is intent on developing its Agua Rica copper/gold deposit, about 30km from the Alumbrera.

To: loantech who wrote (5059)	2/28/2004 8:04:05 PM
From: TheSlowLane	Read Replies (1) \| Respond to of 313967

LT Northern Orion has a 12.5% interest in Alumbrera alongside Wheaton River who owns the rest, I believe (or maybe there is a third party). Anyway, that mine is in production and generating cash flow. They have a property that is in the same area as Alumbrera. The idea is that a rail link could be built and used to ship ore from the new mine for processing at Alumbrera. Would save a few hundred million in development costs. They should be getting an AMEX listing soon, which may help them get more exposure. First Quantum is in production in Zambia and developing properties in the Democratic Republic of Congo. They are building a new mine, Kansanshi, and just arranged a $224 million financing. They raised money at C$16 with no warrant coverage. The icing is that one of the new discoveries they are drilling, Lufua, is showing substantial cobalt. All of the drill holes are being re-assayed for cobalt (which has been rocketing lately) and results should be out soon. These guys are going to be ramping copper production substantially over the next few years at a cost of .35/oz. Should be a real cash machine. Not cheap, but neither is Phelps Dodge!