Diagrams of mining

Version Française

January 11, 2004

The table with all the mines and their reserves, gives a lot of information, even too much. It is difficult to read it quickly and to see that they are the mines who interest us quickly and mines with an identical ratio have sometimes a very various profile because their reserves are not of the same size. I think notably of PAAS who has a ratio of 7 but she has the biggest money in reserve with 874 million ounces, SVL has a ratio superior to 8.9 but with only 28 million ounces. Two mines with one almost identical ration not for all that the same profile, SVL represent much more risks for the investor than PAAS. Best, it is to find important reserves with a high ratio, but it is very rare, MNMM AND SRLM is interesting of this point of seen.

But, I do not want to influence your reading of these tables and I let with you interpret only this information.

Small reminders:

Ratio: it is the value of reserves divided by the total value of market capitalization. For example a ratio of 10 means that for 1$ of actions, you have 10$ of reserves.

In the first table (ratio of silver, reserves are given in ounces.
But, in the two other tables, reserves are given in $us; because reserves are too different (Au,Ag,Cu,Zn,Pb,Mo,Gaz).