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Gold/Mining/Energy : Minefinders, MFL -- Ignore unavailable to you. Want to Upgrade?

To: Sinker who wrote (117)	5/26/1998 6:16:00 PM
From: marcos	Read Replies (1) \| Respond to of 578

Michael Curran says today that the prefeasibility, which is only for the Main Zone, should come out 'by the end of June'. The updated resource calculation should come 'in the next week or so'. There are a few contradictions and errors in his figures today, later when there's time I'll write up a little piece for the thread. Mr Curran, if you're lurking, could you please explain why in your first paragraph you say there is cash of 7mil and in the last paragraph there is 9mil? Also 'cash on dilution', you might check that. Here's the closing snip; "With 15.8 million fully-diluted shares in the company, our target for Minefinders is $6.00, and we maintain our Speculative 1-Buy recommendation for the shares. We have begun our modelling of a potential mining operation at Dolores, and expect to change our valuation method to a discounted cash flow (DCF) method shortly. Initial work suggests that the shares of Minefinders would be even more undervalued in the current market were we to adopt a DCF-approach to our valuation of the company." This follows a statement that production could be reasonably expected to start as early as late 2000 with cash costs under $US200. .... cheers .... marcos