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Gold/Mining/Energy : Gold and Silver junrs- portfolio -- Ignore unavailable to you. Want to Upgrade?

To: onepath who wrote (256)	5/10/2008 9:23:50 AM
From: tyc:>	Read Replies (1) \| Respond to of 328

Thanks onepath; It's interesting that Jay Taylor, on the strength of Mt Milligan alone, puts a fair value of TRX at 1.69 per share... and then there's Berg ! Interesting also that the first six years of production would see annual gold production of 260,000 oz. From memory, that is approximately the equal of both El Morro and Galore Creek. Only their copper production would be higher. The capital cost of El Morro is projected ar $2.5B and Galore Creek ~$5B. The capital cost estimate of Mt Milligan is less than $1B. The Mt Milligan feasibility uses base rates of $600 for gold and 2.75 for copper with FX rate of .86c. At these base rates the IRR is projected at 18%. Apparently Mt Milligan offers the opportunity to invest a billion to yield 18%, and Berg the opportunity to compound that growth. How "boring" can this stock get ?

To: onepath who wrote (256)	5/12/2008 11:25:22 AM
From: tyc:>	Respond to of 328

More speculation on your PF pick (TRX) Speculating on Goldcorp's interest in TRX reminds me of Brascan's original interest in Northgate. In that case, although it didn't eliminate the hedging, it did eliminate the need for margin for the hedge (as in ABX's hedges). I continue to believe that Goldcorp's equity interest will be a significant asset if/when it comes to financing a project. Also this a.m. see the report from Imperial Metals including the grade of Cu/Mo at Huckleberry. Message 24580773 The grade at Berg knocks it into a cocked hat ! (Bt more this a.m.)

To: onepath who wrote (256)	5/15/2008 8:05:00 PM
From: tyc:>	Read Replies (2) \| Respond to of 328

The detail of the EL Morro feasibility study was released today. Message 24591150 It indicates a NPV of $1.09B, using an 8% discount rate. Metallica has a 30% interest so its share of the NPV would be > $335M. By way of comparison, using the same 8% discount rate, the NPV of Mt Milligan as indicated by its feasibility study was $606M. TRX owns 100%. And then there's Berg ! And one must also consider the lower market cap of TRX.