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PROVISIONALLY PRICED SALES:

9 Months Ended

Sep. 30, 2011

PROVISIONALLY PRICED SALES:

PROVISIONALLY PRICED SALES:

NOTE 7 — PROVISIONALLY PRICED SALES:

At September 30, 2011, the Company has recorded provisionally priced sales of copper at average forward prices per pound, and molybdenum at the September 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 September 30, 2011:

Copper (million lbs.)		Priced at (per pound)			Month of Settlement
54.2		$	3.18		October 2011
16.4		3.18			November 2011
70.6		$	3.18

Molybdenum (million lbs.)		Priced at (per pound)			Month of Settlement
3.2		$	14.40		October 2011
3.4		14.40			November 2011
2.6		14.40			December 2011
0.7		14.40			January 2012
9.9		$	14.40

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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