I would have to think POG, it is moving with the rest of the golds. Also this news on Thursday.
Bema Gold Corp - News Release
Placer Dome, Arizona Star, Bema get Chile mine go-ahead
Bema Gold Corp BGO
Shares issued 168,714,450 Mar 20 2002 close $.780
Thursday Mar 21 2002 News Release
Mr. Clive Johnson reports
CERRO CASALE RECEIVES FORMAL APPROVAL OF THE ENVIRONMENTAL IM ...
Compania Minera Casale has recently informed the joint venture partners, Placer Dome Inc. (51 per cent), Arizona Star Resource Corp. (25 per cent) and Bema Gold Corp. (24 per cent), that formal approval has been received for the Cerro Casale environmental impact study from the Chilean regulatory authorities (COREMA).
Submittal of the environmental impact study (EIS) document was made to COREMA in March, 2001, with subsequent addendums addressing specific concerns of the public and COREMA in July and December. With the formal approval of the EIS in hand the project is ready to proceed once metal prices improve sufficiently for project financing.
Based on the feasibility study completed in January, 2000, by Placer Dome Technical Services Ltd., Cerro Casale contains over one billion tonnes of minable ore that could produce over 17.5 million ounces of gold and 2.34 million tonnes of copper over the 18-year mine life. The feasibility study was completed using a gold price of $350 (U.S.) per ounce and a copper price of 95 U.S. cents per pound. Cash production costs are estimated to be below $100 (U.S.) per ounce of gold with total operating costs estimated at $203 (U.S.) per ounce of gold (assuming credits for copper at 95 U.S. cents per pound). Cerro Casale is located in northern Chile, approximately 145 kilometres south-east of the city of Copiapo, at an elevation between 3,800 and 4,450 metres.
The fresh water supply for the project has been secured. Water rights totalling 1,145 litres per second have been formally granted in the Piedra Pomez and Pedrenales areas. Electrical power contracts are also in place for 245 megawatts, sufficient for construction and plant startup at initial milling rates of approximately 170,000 tonnes per day.
WARNING: The company relies upon litigation protection for "forward-looking" statements. |
