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PROVISIONALLY PRICED SALES:

6 Months Ended

Jun. 30, 2011

PROVISIONALLY PRICED SALES:

PROVISIONALLY PRICED SALES:

NOTE 7 — PROVISIONALLY PRICED SALES:

At June 30, 2011, the Company has recorded provisionally priced sales of copper at average forward prices per pound, and molybdenum at the June 30, 2011 market price per pound.  These sales are subject to final pricing based on the average monthly LME or COMEX copper prices and Dealer Oxide molybdenum prices in the future month of settlement.

Following are the provisionally priced copper and molybdenum sales outstanding at June 30, 2011:

Copper (million lbs.)		Priced at (per pound)			Month of Settlement
50.1		$	4.27		July 2011
25.4		4.28			August 2011
75.5		$	4.27

Molybdenum (million lbs.)		Priced at (per pound)			Month of Settlement
2.9		$	15.55		July 2011
3.4		15.55			August 2011
2.4		15.55			September 2011
0.3		15.55			October 2011
9.0		$	15.55

Management believes that the final pricing of these sales will not have a material effect on the Company’s financial position or results of operations.

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