Cumberland Resources (CLG)

[amarksp]

Anyone know the likely capex for Meadowbank?

Estimate CBD will have the following cash balance on 12/31/03:
Current cash (less est liab)...... $19M (6/25 news release)
Todays placements =............... $25M
Remaining 2003 drill program...... ($9M)
Feasibility Study cost estimate... ($1M)
G&A estimate for 2003............. ($1M)
Projected cash at 12/31/03........ $33M

Depending on Meadowbank capex, this $33M balance may go a long way towards financing this mine at 66%:33% debt to equity = Can$100M ??

Given Meadowbank far north location, my understanding is capex may be a large number, anyone care to venture an estimate...