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Gold/Mining/Energy : Silver prices

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To: IngotWeTrust who wrote (5192)	5/23/2002 9:58:32 PM
From: goldsheet	Read Replies (3) of 8010

I previously mentioned to you Sunshine lost its Pirquitas silver project to the investors who bailed the out during their previous bankruptcy (those investors were smart to put a lien on the best asset) Anyway, it is back into play: Silver Standard Acquires Interest in Pirquitas Silver Project, Argentina biz.yahoo.com "The Pirquitas project as previously managed by Sunshine has a published proven and probable diluted reserve of 30.4 million tonnes grading 128 grams per tonne silver and 0.17% tin and 0.81% zinc for a total of 129 million ounces of silver, 53,000 tonnes of tin and 248,000 tonnes of zinc using a 40 gram per tonne silver cutoff" "The property has all permits necessary for production and an operating permit was granted in July 1999. Under the Sunshine feasibility study, capital costs for the project are estimated at US$133 million with mine construction estimated to take 24 months. The mine is expected to produce 11 million ounces of silver per year as well as 3,200 tonnes of tin and 16,300 tonnes of zinc over a projected 9.3-year mine life. Sunshine estimated total cash operating costs at US$1.53 per ounce of silver after by-product credits"

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