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Gold/Mining/Energy : CUMBERLAND RESOURCES (CBD) -- Ignore unavailable to you. Want to Upgrade?

To: Stallion who wrote (2)	2/9/1998 1:26:00 PM
From: Robert A. Sutherland	Read Replies (2) \| Respond to of 393

Yeah, I thought I'd screwed up.. The 100% owned Meadowbank claim has been advanced to pre-feasibility with 1.5mm oz. Pre-feasibility metallurgy has demonstrated 95-97 % recoveries. Deposit is open to the north, west and southwest and is within 150m of the surface. A respectable low-cost open-pit mine. The Meliadine West (22% holding, w/WMC) is at pre-feasibility with 3.23mm oz. The Meliadine East (50% holding, w/Comaplex) is at exploration with 0.400mm oz. Parker Lake is a fizzle, but the Portugal base-metal find looks good. WMC may buy them out, but I would expect Cumberland to get the best deal they can on the open market. Since they are financially healthy and on the verge of banking a pre-feasibility on Meadowbank, I would expect a senior to move sooner than later. Especially if they expect POG to go up.