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

To: mick who wrote (608)	1/28/1999 5:19:00 PM
From: Shaun M. Dykes	Read Replies (2) \| Respond to of 708

Hi. I think you hit the nail on the head with the money in the bank. They will have to get additional money from somewhere. to fund this huge project. But the majors will be watching and waiting to see the results. Even with a recovery US.$12 rock is still good. I know of several mines in BC and the USA that would kill to have $12.00 rock for the mill. Thats why all the latest attempts at putting 0.3 to 0.5% copper projects into production are tight or failing. Overall, I have absolutely no concerns about the grades, tonnages and mining of the material. Given todays mining costs and $12 rock, the project has about $5 to $7 in profit per tonne in total. So they can spend up to $3.00/tonne of rock or $120/tonne of concentrate (using the 40:1 ratio) to process. So if the bio-leach or pressure leach costs more than that then its very marginal, if its less then its a good profit maker. shaun.