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Message: Corner Bay Mine will be profitable

#	Title	Author / Date
1	Institutional Ownership still very strong	TJTHEMAN Sep 28, 08 02:31PM
2	Ultimate Tree Shake.	TJTHEMAN Sep 28, 08 02:32PM
3	CCH properties & Royalties	TJTHEMAN Sep 28, 08 02:32PM

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Author / Date

Institutional Ownership still very strong

TJTHEMAN

Sep 28, 08 02:31PM

Ultimate Tree Shake.

TJTHEMAN

Sep 28, 08 02:32PM

CCH properties & Royalties

TJTHEMAN

Sep 28, 08 02:32PM

TJTHEMAN

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Corner Bay Mine will be profitable

in response to CCH properties & Royalties by TJTHEMAN

posted on Sep 28, 08 02:33PM

Corner Bay.
I think Corner Bay will be extremely profitable once the commercial production begins next week due to the high grades , high tonnage & the near surface deposit which is very economical to mine.

Andre Fortier is expecting a positive cash flow from Corner Bay in Q4-2008 itself.

Andre Fortier on CB , " To date, results from the Corner Bay property have been extremely encouraging. "At the end of June we reached the 105-metre level and have now begun to extract ore at what should be a highly productive mining ground. Output will continue to increase at Corner Bay in the months ahead, and we anticipate that this project will reach the break-even point within the next few months ."

A 5,500 tons of concentrate shipment should be unloaded next week by Oceans Partner .

Another concentrate shipment should be made by the end of November .

1. Phase I extraction of the 42,000 tonne bulk sample at CB . ( Began in Q2-2008 )

2.Phase II anticipates mining an additional 500,000 tonnes of ore grading 4.5% copper over the following three years.

3. Phases I and II are expected to generate $60 million after recovery of all development capital

( Based on internal economic studies done by Campbell and Nuinsco using an average forward copper price of $3.27 per pound and a US/CAD dollar exchange rate of $0.95 . )

4.An average mining rate of 450 tonnes per day is expected @ CB to produce 14,000,000 pounds of copper annually.

5. A 5,500 tons shipment will be made at end of Sep-2008 to Oceans Partner.

6. Another shipment will be made in Nov-2008 to Oceans Partner .

7. Development at the 105 m level at CB has been achieved.

8. The commercial production at CB is well on track & schedule & progressing very well so far .

Looks like from here onwards based on the commercial production of Corner Bay & due to high tonnage , high grades & low productions costs of only $ 1.09/lb we should be seeing a shipment every 2 months to O.P .

Most shipments will be in the 5,500 - 6,000 tons range to reduce shipping costs & will average 20 % Cu in addition to gold & silver .