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Gold/Mining/Energy : Great Basin Gold GBG.VSE (merger of Pacific Sentinel Gold)
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To: que seria who wrote (103)1/22/2000 9:56:00 PM
From: ELP  Read Replies (1) of 317
 
Hi

I hope this helps. I heard that the Ken Snyder was valued at 1 billion. This point I have not done any DD on. What I do know is that it only cost 85 million to put into production and it costs $90 US/oz to produce. Both the start up cost and the production costs are very low. The Ken Snyder had about 1000 holes drilled on it to prove up the reserve. I believe (hope is another word) that GBG will be bigger. Another thing to remember is that the original reason that the HD Gold Group got this play was to go deep. This shallow Ken Snyder type reserves is only icing on the cake if the deep (Barrick style mine)is there. They are not going to drill deep until they have proven up the shallow ( Ken Snyder type) reserves. I think that we may have a take over bid prior to the deep holes being drilled. Since this will be another low cost producer a premium will be paid if the reserves are proven up. They should have enough for about another 60 to 70 or so holes.

Regards
Eric
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