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Gold/Mining/Energy : Western Copper Holdings Ltd. T.WTC -- Ignore unavailable to you. Want to Upgrade?

To: rdww who wrote (322)	6/29/1998 10:24:00 AM
From: jack marshall	Respond to of 401

It's unlike Teck to get involved in this low margin type mining. It is beginning to bother me that they are pursuing this type of strategy instead of their patient high margin accumulation in the past. I smell the work of Klaus Zeitler here. Seems to me he was involved in some disasters at Inmet (Izok Lake, White Pine, Trolius, Pick Lake). Put this guy out to pasture please before he ruins one of Canada's great mining legacies. He's a destroyer of wealth.

To: rdww who wrote (322)	6/29/1998 2:54:00 PM
From: Elizabeth Andrews	Read Replies (2) \| Respond to of 401

They've definitley got more money than me. When they get a permit for the San Nicolas and they announce that project financing is in place I'll believe it. Everything I look at suggests that the returns are marginal even with higher metal prices. Teck doesn't have much at stake here. By the way the cost for (rock) overburden removal is typically US$0.50 per tonne. It'll be higher in this case because of the depth of the haul. They may have meant US$0.70 per tonne. As I've suggested this amount of front end cash (US$100 million?) and the poor recoveries and the fact that the proposed mill circuit appears to produce several concentrates based on the met studies are not positives for the economics.