PHELPS DODGE MINING COMPANY
HIDALGO SMELTER
DANE MINING AND EXPLORATION
SUMMARY WORKSHEET
LOT # 7003/80O1 - PROVISIONAL

METALS WEEK JUNE 30,1995

Copper  (cents/lb)           1.401300
Silver  ($/oz.)              $5.08500
Gold    ($/oz.)              $388.200                                                   PAGE 2

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

Copper          2,791.15     4,812.30         0.00       0.00   l.2605           0.00
Silver          1,145.33       240.62       904.71     859.47   5.27800      4,536.28
Gold            53.898          9.625       44.273     42.059   388.200     16,327.30

METALS WEEKLY JULY 7, 1995                                                              20,863.58

Copper  (cents/lb)           1.401300
Silver  ($/oz.)              $5.08500
Gold    ($/oz.)              $384.717

                 Gross      Deduction        NET     Payable    Rate         Amount
            --------------------------------------------------------------------------
Copper          3,903.19     6,729.60         0.00       0.00         0          0.00
Silver          1,601.65       336.48     1,265.17   1,201.91   5.08500      6,111.71
Gold              75.372       13.459       61.913     58.817   384.717     22,627.38
                                                                           -----------
                                                                                        28,739.59
METALS WEEK JULY 14, 1995
Copper  (cents/lb)           1.445400
Silver  ($/oz.)              $5.20500
Gold    ($/oz.)              $386.970

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

Copper            270.79       466.90         0.00       0.00         0          0.00
Silver            l11.12        23.35        87.77      83.38   5.20500        433.99
Gold               5.229        0.934        4.295      4.081   386.970      1,579.22
                                                                           -----------
                                                                                         2,013.2l


PENALTIES:                  Contract      Actual                Penalty      Penalty
                             Limit                               Basis       Applied
            --------------------------------------------------------------------------
        Iron                     6.0%        3.200%                 0.00%       $0.00
        Lime                     3.0%        0.600%                 0.00%        0.00
        Alumina                  7.0%       10.200%                -3.20%    3,842.82
        Zinc                     0.3%        0.000%                 0.00%        0.00
        Lead                     0.3%        0.000%                 0.00%        0.00
        Arsenic                  0.3%        0.000%                 O.OO%        0.00
        Antimony                             0.000%       
        Cadmium                              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                  75.00%       76.50%                 0.00%        0.00
                                                                           -----------
                                                              Less Penalties            (3,842.82)
                                                              Assay Charges                  0.00
                                                                                     -------------
                                TOTAL                   LOT # 7003/8001 - PROVISIONAL   47,773.56



Exhibit 5A - Phelps Dodge assay worksheet for above.

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

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