HOT MINING STOCKS - UNDER $2 Message Board

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Gold/Mining/Energy : HOT MINING STOCKS - UNDER $2

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To: dean poets who wrote (46)	10/18/2000 1:21:21 PM
From: CIMA	of 73

SRU.V - They are estimating the rock they have drilled to date is worth around $110 a tonne. They estimate costs of around $50 per tonne. So I figure on this lower grade stuff there's $60 per tonne overall. To date they have focused on proving up tonnage. However, that is changing. They are drilling deep holes right now (800 to 1000 metres), one of which is 1 KM away from anything to date, in response to UTEM's that indicated massive sulphides at depth (yet unexplored) that went off the scale of the equipment's ability to measure. Geologists in the field said the only other place they'd seen readings like them was at Voisey's Bay and those were over much narrower sections. They expect to have around 40M tonnes indicated by the end of this year. Next year the plan is to double that with three rigs on site. Much of the financing is already in place for next year. I like this play, obviously, and I have been in for a couple of years now. It has been good to me so far but the chance of a huge payday, after two years, is still intact IMO.

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