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Gold/Mining/Energy : ZINC The base metal. News and Views. Symbol Zn -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (171)	4/14/1999 5:38:00 PM
From: Ray Hughes	Read Replies (2) \| Respond to of 3270

Claude: Re: change of name to EuroZinc and trading under EZM symbol Supreme Court hearing is set for 19 April to consider the application to merge the companies. Shareholders of both companies approved: 99.88% for Auspex and 100%. Trading on the Vancouver Stock Exchange under new name and symbol - EZM - could commence on or about 21 April. Feasibility work keeps producing pleasant outcomes, including the superb drill results. Notably, lead and zinc smelters located very close to the port of Setubal are keenly interested in the concentrates based on grade and quality as earlier specified in metallurgical tests made during 1994. New met testing underway is aimed at increasing the grade of metals in concentrates, elevating overall recoveries, and providing "clean" concentrates. The new concentrates may, therefore, be all the more marketable. Close proximity of smelters we are talking to means freight charges could be lower than those we assumed in the financial model. More importantly, an independent engineering firm, Beahre Dolbear, engaged for due diligence for the Rothschild financing is confirming projected low mining costs. Aljustrel is expected to achieve very low mining costs owing to 1) the use of highly mechanized mining made possible by wide mineralized intervals and, 2)general avoidance of backfilling of stopes made possible by stable ground conditions. RH