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Gold/Mining/Energy : Gold & Gold Stock Analysis
GLD 411.50+0.6%4:00 PM EST
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To: ItsAllCyclical who wrote (29238)1/17/2013 3:01:48 PM
From: Nevada9999  Read Replies (1) of 29622
 
I don't have a land map, but I think you misunderstood. They are in the railroad checkerboard and the sections are about 1 mile square. Federal sections are staked with lode claims which are 1500x600 feet (maybe that is where the 500m came from). Sections are a lot of ground, but exploration is still hit and miss landwise. They can deal for the private sections before or after. Relief Canyon is not a very robust deposit, that is one reason I think this is just part of a land consolidation. There is a growing cluster of mines in Pershing County and it's worthy of consideration by a major. ABX and CDE are already there. Contract mining isn't uncommon. The majors do it at some mines, like Getchell. I don't know how this will play out, but PGLC could turn into a mid-tier producer. Management looks good, but it all depends on what deals they can do.
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