MSV reserves

Reserves at the Portage and Copper Range mines at Chibougamau, Que., have doubled.

MSV Resources (ME), which acquired the properties some nine months ago, reported minable reserves (as of Nov. 30) of 2.1 million tons in the proven and probable categories, grading 1.58% copper and 0.12 oz. gold per ton. (Reserves were calculated based on prices of US75 cents per lb. copper, US$350 per oz. gold and an exchange rate for the Canadian dollar of US75 cents.)

The new reserve figure excludes tonnage from MSV’s Cedar Bay property.