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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: jackjc who wrote (44003)	7/6/2007 12:39:28 AM
From: E. Charters	Read Replies (1) of 78419

Since a fease may cost ten million dollars and only the computer knows the answer until its done, the reason may be discernible as to why they take over after the fease. A sure thing is worth a 100 million when you could easily bet wrong ten times at 50 million a crack before the fact. If that sounds unlikely I would like to quote you what a Dome manager told a geologist as to why he could not tell him whether the fease was positive or negative on a particular property. In this case it was the first Super Pit in Timmins I believe. He told him "I can't tell you if the pit is a go, basically because until practically the it's done we don't even know the answer." When you consider that 30 geologists may work up to 18 months on such a feasibility, and you usually run about 4 to 6 production scenarios in a contest to see which one wins, and the feasibility itself is based collecting millions of bytes of data, and a running these scenarios for many different interest rates in a mammoth linear algebra program run on a computer cluster, with hundreds of equations and scores of variables, it is easy to see this assertion could be a fair assessment. EC<:-}

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