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Gold/Mining/Energy : Metallica (MR T) -- Ignore unavailable to you. Want to Upgrade?

To: Dan P who wrote (130)	3/9/1999 10:04:00 AM
From: Claude Cormier	Respond to of 263

<<Claude do you know whether they are in feasibility or whether a production decision has been reached? I wonder what role the recent poor metals market has played with regard to this project.>> They are still in feasibility and have all the data to complete it. They first need the permits from the Mexican authorities. This is the big show stopper for now. But I think we will have news on this in a near future. As for the feasibility being positive, it will be close with a cost per ounce below $175. However, with current gold prices, the rate of return may not be enough as I think they want at least 20%. I suspect they will wait for gold to be at the $310+ level before they initiate the project.