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Operations: Copper-gold-silver-mine in Bolivia, Gold/copper mine/Mill in Spain and its developing copper project in Michigan

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GAAP would typically insist that inventory not be valued based upon market price even if it is liquid. It should be based upon cost and the profit element can not be included until it is realized.

Although I agree that it is more liquid then "typical" invent price and demand volatility still exists.

Orgy

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