ORXX - Orex Gold Mines Corporation Message Board

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Gold/Mining/Energy : ORXX - Orex Gold Mines Corporation

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To: Gazza who wrote (2160)	10/25/1999 5:11:00 PM
From: Tim Hall	Read Replies (1) of 2392

Gazza, Orex Gold Mines Corp. Acquires Santa Maria Mining Corp. CORAL GABLES, Fla.--(BUSINESS WIRE)--Aug. 16, 1999--Orex Gold Mines Corp. (OTC BB:ORXX) announced Monday that it has acquired the Santa Maria Mining Corp., a California corporation. The acquisition will set in place the assets, personnel, mining equipment and expertise to develop properties for the Haber Gold Process (see www.orexgold.com). Santa Maria Mining Corp. owns the Santa Maria Mine and Mill located on the Santa Maria River near Wickenburg, Ariz. The 480 acre property covers substantial reserves of moderate grade (0.25 oz/ton) oxidized gold ore and a fully permitted subterranean gold mining operation. .25 oz/ton X 298.5 $/oz (10/25/99 spot price) X 97 ton/day = = = 7,238.625 $ per day. Also, from the 20 year old ground water permit that GA Bard posted, they can only run 10 tons per day. What are we missing here? Tim

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