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Gold/Mining/Energy : Nuinsco Resources (NWI) -- Ignore unavailable to you. Want to Upgrade?

To: Natrav who wrote (2982)	4/7/1999 10:44:00 AM
From: Gary Nash	Read Replies (1) \| Respond to of 5821

Natrav: With Ni at ~$2US per pound, an average 2.5%Ni grade is worth about $100US-$30US for costs of mining, or ~$100CDN with NO credits for Cu,Co,Ag,Pt/PD (the latter 3 minor credits). That means no further dilution by a typical 15% should be taken for a waste factor. So before capital costs for financing and mill etc., $100CDN for 2.5%Ni is a fair approximation. Costs of course can vary depending on the depth of ore, metallurgy etc., but for now that figure is a fair one. I therefore have to say the analyst is low balling the results to date. His reserves are fair as we really don't know much more at this time. Soon to change by next week.