PHELPS DODGE MINING COMPANY
HIDALGO SMELTER
DANE MINING AND EXPLORATION
SUMMARY WORKSHEET
LOT # 7002 - FINAL

METALS WEEK JUNE 23, 1995

Copper  (cents/lb)           1.442700
Silver  ($/oz.)              $5.4290O                                                   PAGE 1
Gold    ($/oz.)              $390,160

                 Gross      Deduction        NET     Payable    Rate         Amount
            --------------------------------------------------------------------------
Copper          9,760.29     9,959.50         0.00       0.00    1.2927          0.00
Silver          3,037.65       497.98     2,539.67   2,412.69   5.429OO     13,098.49
Gold             146.405       19.919      126.486    120.162   390.160     46,882.41
                                                                           -----------

METALS WEEK                                                                             59,980.90
Copper  (cents/lb)           1.388400
Silver  ($/oz.)              $5.37800
Gold    ($/oz.)              $388.410

                 Gross      Deduction        NET     Payable    Rate         Amount
            --------------------------------------------------------------------------

Copper              0.00        0.00          0.00       0.00         0          0.00
Silver              0.00        0.00          0.00       0.00   5.37800          0.00
Gold               0.000       0.000         0.000      0.000   388.410          0.00
                                                                           -----------
                                                                                             0.00
PENALTIES:                  Contract      Actual                Penalty      Penalty
                             Limit                               Basis       Applied
            --------------------------------------------------------------------------
        Iron                     6.0%        5.0OO%                 0.00%       $0.00
        Lime                     3.0%        1.400%                 0.00%        0.00
        Alumina                  6.0%        2.000%                 0.00%        0.00
        Zinc                     0.3%        0.000%                 0.00%        0.00
        Lead                     0.3%        0.000%                 0.00%        0.00
        Arsenic                  0.3%        0.000%                 0.00%        0.00
        Antimony                             0.000%     
        Cadmiuim                             0.000%     
        & Bismuth                            0.000%     
          total                  0.2%        0.000%                0.000%        0.00
        Chlorine                0.05%        0.000%                0.000%        0.00
        Flourine                0.05%        0.000%               0.0000%        0.00
        Silica                  5.00%        74.20%                 0.80%      796.76
                                                                           -----------
                                                              Less Penalties              (796.76)
                                                              Less Assay Charges             0.00
                                                                                     -------------
                                        TOTAL                 LOT # 7002 - FINAL       $59,184.14
                                                                                     =============
Exhibit 4A - Phelps Dodge assay worksheet for above.

Note: This text was OCR'ed from a scanned-in document for better legibility.

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