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Gold/Mining/Energy : SLGLF - Silverado Gold Mines Limited
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To: ms.smartest.person who wrote (8)6/30/2002 6:45:00 PM
From: Zen Trader   of 25
 
As stated in Cliff Droke's article. The financing deal is for $4 million. This is large compared to other financing recently reported by some other junior miners.

Also, stated in Droke's article is that this financing will bring their largest mine into profitable production this summer at $100/oz. cash cost. Even with Gold at $300 this would be huge.

Finally, according to Droke:

"Silverado has a 440,914 oz. reserve, with the expectation of over 2 million ounces upon further exploration. Moreover, its conservative 3-year profit target has been put at US$19.5 million net on the first 70,000 ounces, with a profitable first full year production of US$5.1 million un-hedged."
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