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

To: Richard Mazzarella who wrote (187)	5/20/1999 10:45:00 AM
From: Claude Cormier	Read Replies (1) \| Respond to of 263

Metallica is basically debt free with close to $5M in cash and cash equivalent (among those some 200,000 shares of Cambior). Their main asset is the Cerro San Pedro property in Mexico JV'd to Cambior. There is a geological resource there of some 5-6M ounces.. In 1998 a pre-feasibility study established mineable reserves at gold $315-$325 were about 1.6M ounces... with a cash cost of $169. Cambior is awaiting higher prices to complete feasibility...very little need to be done there. If gold could spike to $300...there is a chance a decision would be made. Other properties include one porphyry prospects in Chile where good results were received recently...and a gold project with a 800,000 ounces resource in Brazil. MR will be hot with gold $325 and above. I think I have more details avail in a free issue I have available at ormetal.com