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Strategies & Market Trends : Winter in the Great White North
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To: Frank Pembleton who wrote (1398)9/9/2001 7:21:33 PM
From: tyc:>  Read Replies (1) of 8273
 
It seems pretty clear that in the entire George Lake complex there is over 2,000,000 ounces (resource) and the ore is pretty high grade and to some extent open-pit. Full details are provided in a prospectus recently posted on the WRM Sedar page. Geologically the ore-bodies are similar to what is found at Lupin. In the 80's, Lupin began production with no more that 800,000 ounces of reserves; they have since mined over 2,000,000 ounces.

I believe the $50 per ounce for trucking was calculated for trucking over ice-roads in winter. With the all-weather road feasibility proceeding, one can envisage lower trucking expense simply because the trucks would be working in both directions.

Of course they may set-up a mill; but if trucking provides a cheaper solution, why would they want to go to the additional capital expense of doing so? There might be economies of scale in utilizing the Lupin operation and workforce.

Anyway, I said it was probably outrageous speculation.... (but interesting).
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