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Gold/Mining/Energy : Precious and Base Metal Investing
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To: Claude Cormier who wrote (336)10/26/2001 11:39:03 AM
From: russwinter  Read Replies (2) of 39344
 
<they mentioned $90M after the new redesign and optimization>

??

Here's what the scoping study says, "With a capital cost in the range of US$35-50 million preliminary conclusions are that the Estrella pit could support a ten year 4-5000 tonne/day heap leach operation, producing 115,000-125,000 oz at a recovery rate of 70+% with an estimated cost of $80-100/oz and a capex of $35-50/oz."

Of course this is dynamic depending on new discoveries in the initial phase.

Notes:
- Estrella cutoff is an extremely conservative 2.0 g. Nobody uses that high a number among our other plays? Even 1.5 g would be robust economics here.

- More high grade feeders a good probability. Found one dandy at section 4225N: 80m @ 8.54 g. Plenty of good snippets as well in top 75 meters, with deeper relatively untested.

- Plenty of lower grade 1.5 g stuff as a resource should gold advance. In fact, Salamandra likely has a huge supply of low grade once the district gets explored out. THAT'S JUST THE BONUS though.

- Insight credited to Jim Steele: "Substitute a small mill (which AAS already has) for the high grade, and a run of mine leach for the rest. That's one of the best ways to make this deposit more economic than PDG/KN ever dreamed."

-Capex price tag with this combo approach: less than 60 million, but much higher production rate than the 120K/year.
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