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Gold/Mining/Energy : Cadre Resources (CSL.V) Awaiting production #'s and Financ
CSL 331.04-0.9%Dec 12 4:00 PM EST
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To: TheBusDriver who wrote (911)9/18/2001 7:48:56 PM
From: marcos  Read Replies (1) of 1285
 
Well remember the vital steps - 1. breathe in, 2. breathe out ... news -

'Cadre completes strategic business plan

Cadre Resources Ltd
CSL
Shares issued 7,707,715
Sep 10 2001 close $.230
Tuesday Sep 18 2001
News Release
Mr. R. Page Chilcott reports
Cadre Resources has completed a strategic business plan prepared by an
independent third party which follows a due diligence review of the company's
proposed environmentally sound Lower Carom River project. The project
objective is to use proven and efficient, off-the-shelf modern large volume dredge
mining and slurry pipeline technology, for the processing and recovery of a
multiyear supply of material.
The objective is to generate and market high-grade granite/quartz-base ASTM
Spec. sand and gravel in addition to recovering gold, diamonds and
titanium-bearing black sand. Mercury was discarded into the river by early gold
miners. The company expects to recover that mercury, strongly enhancing the
environmental remediation aspects of the project.
Based on potential project scale of operation and its development, the business
plan includes marketing strategy and environmental effect comment. Projections
summarize estimated capital and operating costs, operating and cash flow
projections, and timeline cash requirements from pilot-plant through production of
10 million TPY. This plan is to assist the company in the procurement of financing
in order to conduct a comprehensive engineering and economic feasibility study as
proposed by Bateman Engineering Ltd. in its prefeasibility report. The feasibility
study will be a detailed project risk analysis, under Bateman supervision, and will
include a bulk sampling program and pilot-plant, in order to confirm opinions of
various independent consultants and corroborate results of earlier work. Both
economic and engineering factors will be considered. Cost of the bankable
feasibility study is expected to be in excess of $750,000 (U.S.) over three to four
months. That study is intended for presentation to financial institutions.
Financing discussions for the study are under way.
Definitive environmental and marketing studies are subject to completion of
financing for the feasibility study and will be undertaken concurrently with that
study.
(c) Copyright 2001 Canjex Publishing Ltd. canada-stockwatch.com
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