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Gold/Mining/Energy : PolyMet Mining Corp POM.V (was Fleck Resources) -- Ignore unavailable to you. Want to Upgrade?

To: Shaun M. Dykes who wrote (606)	1/28/1999 3:17:00 PM
From: Pat Armstead	Respond to of 708

now that last comment put us in our place.....and we thought we all knew the mining industry.....

To: Shaun M. Dykes who wrote (606)	1/28/1999 3:42:00 PM
From: mick	Read Replies (1) \| Respond to of 708

Thanks for the Numbers Thanks for getting back to me with the numbers. I had never heard of minecost for figures. It sounds like its for serious research, but there is still some accesible stuff worth looking at. As you may gather, I don't feel that this property represents good dollar value at the current market price. With the information provided, the metals in the rock are only worth about $ 12 which assumes 100 % recovery. I can't recall the company figures provided but it was substantially less. I don't know what the costs are for processing, but I assume its high. At today's metal prices, I don't think this project is economic even with the infrastructure in place. With 16 M shares, the market is valuing it at 32 M$. They apparently only have 1 M$ in the bank and I think they will find future funding difficult. I maybe wrong on this, especially if future exploration finds some high grade zones. I only point this out so that other more economic projects may be used for comparison for your dollar. I personally don't know what value I would put on it. It only caught my attention as it started to take off. I just know know that anything over $ 1 would make me very uncomfortable - especially with all the other opportunites out there.