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Gold/Mining/Energy : Precious and Base Metal Investing

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To: loantech who wrote (11639)	5/30/2003 8:13:06 PM
From: E. Charters	Read Replies (2) of 39344

250 thou ounces at 3.7 grams is 2 million 3 hundred thou tons per year or 6500 tons per day crush grind leach. How much to build that mill and pit up in Rankin Inlet? If it cost 10 million to build a 300 ton per day mill how much for 6500? 6500/300= 21.6666 cube root of 21.666 = 2.78 2.78 squared =7.770. So it cost 77.7 million to build the mill there. Add 30 million for trucks, drills etc.. and we have 107 million dollars. At 3.50 a share that is 30.5 million shares out more. Not bad, but who is going to buy that deal? Not Cannacord, and not GM. Most of the brokers don't have mining analysts on their staff who can spel feezability, let alone crunch the real numbers on a far north mine. No bank in Canada will lend money for a Toronto flower shop, let alone a mine in the arctic hinterland. And they have to tie up X million forever in a bond to close, which won't earn them dick. You can bet the guvmint will just make it more expensive, not less. They don't give a hoot and a holler about resource jobs. Can they do it? hmmmmmm Wheaton River's operation in BC was just a stalking horse for money.. this is serious mining. What would the profit be? It should be 30 million after taxes. If they let me design it, it might make that. But they will get experts and screw it up with some CIL mill that cost 2 times too much and gets 80% recovery. Good luck to them. EC<:-}

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