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Gold/Mining/Energy : Corner Bay Silver (BAY.T)
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To: john.d who wrote (555)12/22/1999 11:55:00 PM
From: Elizabeth Andrews  Read Replies (2) of 4409
 
Peter the down dip resource is irrelevant and not worth pursuing due to the fact that deposit plunges into the hillside and the stripping ratio is going to go off the scale when contemplating mining to a pit floor of 300 meters.

Why are they drilling when the say they a minable resource now? The present value of future reserves is almost zero and is a smokescreen. The drill program means the property may have a problem and the drilling to prove up a larger resource is a way to deflect the problem that may kill this project.

And, there's a lot of talk about metallurgy which I believe will be this projects biggest problem. To mill or to leach that is the question. The leach recoveries may be poor and the grade may not be high enough to support the costs of grinding and floatation.

The market cap should be higher than it is even in this crappy market.

Very risky boys.
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