Reuter-Indochinas' $400,000 montly

[dawnstar@xxxxxxxxxxxxx]

Subject: Reuter-Indochinas' $400,000 montly propaganda boasts

And this is the same company that boasted of its future estimated montly
earnings of $400,000!!! What a greedy scam, they deserve to lose
whatever they expected to steal from the Burmese victims of
dictatorship.ds


TIN KYI wrote:
> 
> Tuesday June 22, 3:53 am Eastern Time
> Indochinasays Myanmar copper mine low cost
> SYDNEY, June 22 (Reuters) - Myanmar's Monywa copper project was producing
> London Metal Exchange grade copper cathode at an annualised rate of 55
> million pounds for an average cash cost of US$0.25 a pound, Indochina
> Goldfields Ltd (Toronto:ING.TO - news) chairman Robert Friedland said on
> Tuesday.
> 
> ``Daily copper production continues to exceed the annualised design rate of
> 25,000 tonnes (55 million pounds),'' Friedland said in a statement.
> 
> In the first the quarter, the mine produced 6,181 tonnes (13.6 million
> pounds) of LME Grade A cathode copper at a total mine gate cash cost of
> around $0.25 per pound, he said.
> 
> Copper fetches about $0.66 a pound on world spot markets.
>     Similar costs are expected in the current quarter, he added.
>     The cost structure at Monywa would make it one of the lowest cost copper
> mining projects globally, according to analysts.
> Indochina has 50 percent of the mine with the rest held by the Myanmar
> government's Mining Enterprise No. One.
> 
> Friedland said the venture has developed a planned sequence of expansions at
> the Monywa project which could generate at least an extra 100,000 tonnes of
> copper a year.
> 
> Following shareholder approval and pending final regulatory approval,
> Indochina is changing its name to Ivanhoe Mines Ltd to better reflect an
> interest in mining on a global scale, he noted.
> 
> The company expects its shares will start trading under the new symbol IVN
> within two weeks.
> 
> Indochina was established after the C$4.3 billion sale of the Voisey's Bay
> nickel deposit in Canada in 1996 by Diamond Field Resources, a firm headed
> by Friedland.