Geology, mining and assorted terminology thread Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Geology, mining and assorted terminology thread

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Francoise Kartha who wrote (20)	10/26/1996 3:52:00 PM
From: stak	of 110

francoise thanks for the great link to the scandium site stuff.i've got a small article on 'the world's largest indium mine' i'm not pushing the stock or co. on anyone but if you're interested in indium... ADEX ANNOUNCES UPDATE FOR MOUNT PLEASANT MINE PROJECT TORONTO, Oct. 23 /CNW/ - ADEX Mining Inc. (``ADEX'') (AMG-TSE) is pleased to announce an update for its activities in bringing the Mount Pleasant Mine to production. As announced in June, Davy International is completing a bankable feasibility study for the mine project. As part of this study the company has completed some additional diamond drilling and carried the bio-leach process to the indium production stage, ADEX has completed a series of additional drill holes in the North Zone deposit. The results of this program have led to a much better understanding of the geology associated with the tin and indium mineralization. This new assessment has increased the total tonnage available for the mining project and has increased the predictability of the mineralized horizons. The drill program has confirmed the tin grades, however an upper tin-indium-base metal zone is much larger than indicated by previous drilling. Based on analytical results received to date, it appears that there will be an increase in indium grade in the North Zone. The company is also convinced that the new interpretation of the geology will lead to the discovery of additional deposits on the property which could significantly increase the mine life beyond the current 9 year plan. ADEX is also pleased to report that its bio-leach pilot processing project is nearing completion and the final report is being prepared. Increased indium extraction rates of 85% in the bio-leach have been confirmed. In addition, a process flow sheet has been developed and tested to produce a marketable indium product. The Mount Pleasant Mine project currently includes extensive surface infrastructure built at a cost of $120 million in 1983. The tin and indium deposits also contain significant amounts of copper, zinc and bismuth. Mount Pleasant is the world's largest known indium reserve and after start up will be North America's only significant tin producer. Davy International began its review work in late July and therefore has informed ADEX that the bankable feasibility will be delivered in February, 1997. Subject to Davy International's report, Malaysia Smelting Corporation can subscribe for up to 24.2 million shares of ADEX at $1.15 per share. These proceeds would represent the majority of funds required to return Mount Pleasant to production. At full production the mine could net a pre-tax profit of $20 million to $25 million annually. ADEX currently has approximately 18 million shares issued. 08:45e 23-OCT-96

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next