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Gold/Mining/Energy : Breakwater Resources (T.BWR) -- Ignore unavailable to you. Want to Upgrade?

To: Stephen O who wrote (488)	7/23/1998 10:48:00 PM
From: Mark Lines	Read Replies (1) \| Respond to of 962

The annual report lists estimated Silver concentrates for '98 to be 4 million ounces. Even better!

To: Stephen O who wrote (488)	7/24/1998 5:41:00 PM
From: jack marshall	Read Replies (2) \| Respond to of 962

The smelter/refiner takes in the order of 30% of gross silver revenue to cover treatment charges depending on the amount in the concentrate. Some smelters will not pay for silver in zinc concentrate at all. Silver in lead concentrate is paid well. The smelter usually deducts 3 ounces/tonne concentrate and then pays in the order of 85% of gross value. Five weeks inventory level works out to be about 600,000 to 650,000 tonnes of metal. The LME has 370,000. The smelters have 300,000 and consumers/traders are sitting on about 125,000. Total-->795,000 tonnes. Need to work off another 150,00 tonnes or so. Funds are starting to cover their short position. May they rot in hell for screwing up the market in the first place. Asian smelters are INCREASING production and exporting since in their terms the price is good! The US is taking up most of the slack but this cannot continue forever. Anyone know when second quarter results are out??

To: Stephen O who wrote (488)	8/11/1998 8:40:00 PM
From: Mark Lines	Respond to of 962

Stephen, just curious, If BWR was a "screaming buy" at $1.80, how would you characterize it now? :) This thread has gone dead quiet. Is everyone like me, off in some corner licking their wounds? GICs don't look so bad these days... Jack, what do you make of this mess? Are we in an oversold position? I guess my biggest concern is BWR's ability to continue as a going concern on a long-term basis. My opinion is that Caribou might stay closed and/or they may write it down. After all, the book value of $3/share might be a bit out of wack anyway. Another possibility is that they may sell the mine to raise cash. I sure wish they had enough cash to buy back alot of shares at these prices. Comments anyone?