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Gold/Mining/Energy : Naxos Resources (NAXOF) -- Ignore unavailable to you. Want to Upgrade?

To: Henry Volquardsen who wrote (16262)	9/14/1998 11:00:00 PM
From: jlallen	Respond to of 20681

BTW did anyone notice the price spike two days ago? It would appear there are still a few leaks that need to be plugged. JLA

To: Henry Volquardsen who wrote (16262)	9/15/1998 11:15:00 AM
From: Kim W. Brasington	Read Replies (1) \| Respond to of 20681

Henry: The projected internal rate of return @ $.76 copper is 11%. The projected internal rate of return @ $1.00 copper is 30%. These rates of return are based on lower cost estimates than the Bateman report stated, because of the option of a JV with Laminco and projected cost savings on equipment, and in other areas. CPM and other analysts believe that the price of copper will rise to about the $1.00 level sometime within the next year or so. Since the drop in the price of copper was fast, it caught some companies unprepared and they had to shut down their mines. Regards, Kim W.