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Gold/Mining/Energy : Namibian Copper Mines Inc. -- Ignore unavailable to you. Want to Upgrade?

To: KipferlMeister who wrote (125)	2/3/1998 3:20:00 PM
From: David Regep	Read Replies (2) \| Respond to of 154

Here is a NCMI news release 013098: NAMIBIAN COPPER MINES INC. ANNOUNCES BANKABLE FEASIBILITY STUDY Phoenix, January 30 - Namibian Copper Mines Inc. Thursday announced that it had received from the international engineering firms Minproc Australia Ltd. and Kvaerner Davy Pty Ltd. (formerly Davy John Brown), the completed Bankable Feasibility Study on its Haib Copper Project. The ''Haib'' will be the first new major mining project in Namibia since its independence in 1990. The current estimate of capital expenditure for completion of the project is US$490 million. When fully operational, targeted to July 1998, the project could represent up to 15 per cent of Namibia's annual gross domestic product. Results of the Bankable Feasibility Study surpass earlier forecasts in terms of production levels and lower operating costs. Current estimates of operating costs are US$0.51 per pound with annual net operating cash flows in the order of US$140 million. The feasibility study incorporated the particular economic importance of the favourable operating and capital costs demonstrated by the Roast Leach Electrowin (RLE) extractive process to be utilized at the Haib. At the high ore treatment rates proposed in the study the RLE process is so effective that the treatment of low grade ores by heap leaching was eliminated. Based on the new efficiencies, production levels for cathode copper using RLE alone are estimated to be in excess of 100,000 tonnes per annum. This would place the Haib Copper Project as one of the top ten cathode copper producers in the world. Contact: Bill Allred, Namibian Copper Mines Inc., tel Tempe, Arizona 001 602 491-1002 or fax 001 602 413-9716. ends ml ---This all looks good to me. I guess now we have to wait for money deals.---DavidR P.S. MichaelV writes:<<Haven't seen you post anything in quite a while, David. How have you been?>> Hiya Michael. I been real well keeping busy. Personally got disgusted with SI threads and stopped following them. I started not liking the rationale of some pro-DDer's. Oh well, I am still around and watching from afar. How have you been?