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Gold/Mining/Energy : Pacific Rim Mining V.PFG
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To: Bill Jackson who wrote (4535)5/19/1997 1:43:00 PM
From: E. Charters   of 14627
 
A feasibility is not done that way sorry. It has to pass the
rules of the exchange and the Penguins of Ontario and is a
costing analyis not a compilation of data. So the
clock has to tick again with an engineering look at the data.
MIS departments of even companies like Barrick are not so
sophisticated that they have ongoing linear programming and mill
size calculations inputting data at each drill hole. after a
resource is defined the engineering standards require frequently
a lot more drilling of infill. Echo Bay drilled 1400 holes in
their 1.3 million ounce orebody to answer the question of feasibility.

I would estimate about 15 engineers and various support people
have to go over the data collected AND mandate bulk metallurgical
test of up to 1000 tons ot determine whether the orebody will go.
This will take about mine months on average and cost about 10 million
dollars.

Every nut bolt and person who works..their lodging and support has
to be costed for various scenarios, as many as three ongoing and competing,
to complete a feasibility. Roads, substation have to be costed to
the dime..ROI's for different interest rates, costs of money, etc have
to be crunched..every are in the world has different cost figures..monetary
conversions ahve to be inout and bottom lines calced..it isn;t enough to say
they know these things..they have to input them in complex programs and spreadsheets
and then go over the answer..pit designs and mining methods have to be
worked out..

This I guarantee you has not taken place..we've got an idea doesn't cut it.
the amazing thing about feasibility processes is that nobody knows until
they are practically done whether they are positive or negative..
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