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Gold/Mining/Energy : Rock Resources -- Ignore unavailable to you. Want to Upgrade?

To: Francis Scavo who wrote (310)	11/15/1998 9:34:00 AM
From: Mike Gold	Read Replies (2) \| Respond to of 1996

Francis, I believe the numbers provided by Rock Resources concerning Los Pelambres are accurate. The numbers I provided represent the 'average' resource. I saw something to the effect that the 1.4% copper numbers were for a small fraction of the overall 3.3 billion ton reserve. Note: Also saw the Los Pelambres claims a 50 cent/pound cost to operate the mine. This is okay if you already have an operating mine in place. It does not include the capital cost of the mine itself. Rock Resources initial operating costs would be much higher making it, IMO, an uneconomical operation if their porphyry had a similiar copper ore grade. Certainly, things will be different if significant gold grades are realized or higher grade copper ore is found.