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

To: G.T. who wrote (611)	1/29/1999 5:00:00 AM
From: Shaun M. Dykes	Respond to of 708

Interesting Numbers. I think the copper is to low on the recoveries depending on what type of mines your talking about. Looking at the numbers I'd say these are massive sulphide type mines in Canada that you find at sudbury, flin flon etc. None of these mines is remotely like this property. They look like fairly typical numbers often found at these types of mine. Example its already been established that Cu recovery to the concentrate exceeds 80% from at least three different independant sources. Operating cost for recovery of these metals to concentrate is way too high for a bulk flotation con, especially at 50,000 tpd mining rates and above. After all this is not a massive sulphide deposit, but would be handled exactly like an large bulk tonnage open pit. The different flotation results all show normal reagent consumption, so theres no extra costs in that part of the process. Previous work has all ready established the costs for the concentrate production at around the $4 to $6/tonne,again by people like Flour-Daniel Wright Couple of things I'd like to point out according to the numbers the total number of lbs of copper should be 4.9 thats 57%* 0.432* 20lbs/short ton. Finally, thats $11.48/short ton, the mineral reserve and mining has been currently worked out using metric tonnes which are 10% larger and contain more metal. As said previously theres nothing fundamentally wrong with this deposit, it comes down to one thing the concentrate processing cost has to be less than say US $120/ton of concentrate to be profitable and that nobody knows yet. Hope this helps Shaun.