International Speculator Newsletter...15

High Tech Secret

It Used To Cost A Billion To
Build A Copper Mine...

Let's look, for example, at the capital costs of producing copper - then and now.

To begin with, in the old days, you were working almost exclusively with sulfide ores. And to extract copper from traditional sulfide ores, you have to build a mammoth plant to crush the stuff and produce a flow concentrate. You have to ship the concentrate to a big expensive smelter. And to build just one smelter might cost $1 billion in today's money, of which about $300 million go to environmental protection alone!

The consequences are inescapable. Small deposits never were milked. Because the capital costs were so high, they overwhelmed any profit from extracting the metal.

33 New Mines For The Price
Of A Single Old One!

By contrast, a company now can work very profitably on smaller, oxide deposits. Without the billion-dollar smelter. Without the clean-up costs.

Result? While an old-style, sulfitic deposit in Argentina might require a capital investment of a billion dollars - that's money up front, before a dime of cash flows out - you can put a smaller deposit into production for just $30 million.

33 new mines for the price of just one old one.

Advantage To The Small Companies

There's an old saying in the mining business. The best way to assure high returns on equity is to not have to put the equity up.

That's the beauty of the new extraction technologies. The old barriers to production are falling as fast as the barriers to exploration. And once again these breakthroughs flow directly to the benefit of the small, "junior" mining companies.

Why? First, because the small exploration companies can now finance their own mining operations, if they want to. Second, because today there are many, many more targets for them to explore. Third, because the odds of a target turning out to be profitable are greatly increased.

Think of it in terms of the entire mining industry. When capital requirements tumble, the only missing ingredient for success is information about where the new deposits can be found. And that's exactly what the small companies provide.

The world is their oyster... now loaded with 33 times the number of pearls.

Doug Casey Discovery

The Most Precious
Natural Resource Off All

It won't be long before you share a craving that's bound to consume everyone - especially the newly wealthy Asians. LAND!

Importantly, though, the definition of a desirable location is going to change radically. Faxes and the Internet are just the beginning of a revolution that will free millions to live where they really want.

The forces that have freed people to live in anywhere and conduct business daily with associates worldwide won't stop until they cover the earth.

Beautiful tracts of world-class real estate may become the most desired resource of all.

The Next New Zealand ...
$ 100 An Acre

You have to be careful. Many desirable places in the U.S. have been bid up to absurdly high prices that may crash as the world opens up.

But how about oceanfront property - in "the next New Zealand!" - for $100 an acre? YOU could hold onto it for a bit, sell half, and be set for life. It's not a fantasy, deals like these are easily found.

The key is to buy before the rest of the world catches on. No one knows this better than Doug. He purchased property in Aspen in 1962 and has seen it skyrocket in value. Yet he believes there are better opportunities right now. With potential for runups of 50 to 100 times purchase, price!

Doug Casey just closed a deal for himself on just such a property and he'd love to share the secret with you. Don't miss this "set and forget" investment!

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