Minera Andes, MAI on Alberta Message Board

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Gold/Mining/Energy : Minera Andes, MAI on Alberta

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From: semi_infinite	10/20/2004 12:49:31 PM
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This shows more confidence than before on MHC's part and it appears the "news" is already in the price. I added a little @0.60. complete PR at biz.yahoo.com Minera Andes' Silver/Gold Project Agreement Amended; Pilot Plant Bypassed Wednesday October 20, 9:25 am ET SPOKANE, Washington, Oct. 20, 2004 (PRIMEZONE) -- Minera Andes Inc.'s (Vancouver:MAI.V - News) (OTC BB:MNEAF.OB - News) advanced-stage San Jose silver/gold project in southern Argentina can proceed directly to a large-scale milling operation under an agreement reached with the project's operating partner. An amendment to the joint venture agreement eliminates a requirement for initial preliminary production from a 50 ton-per-day (tpd) pilot plant to process mined ore if the Huevos Verdes vein proceeds to production. The amendment allows the parties to eliminate the costly pilot plant and proceed directly to full production based on a positive bankable feasibility study. The Huevos Verdes vein, part of the 98,800-acre San Jose silver/gold project, is held in the joint venture's Argentine company, Minera Santa Cruz (MSC). This company the operator of the joint venture is co-owned 49 percent by Minera Andes and 51 percent by, Mauricio Hochschild & Cia. Ltda. (MHC) of Lima, Peru. As exploration and construction has advanced at Huevos Verdes, it has become apparent that a costly pilot plant can be eliminated by using a smaller, off-site bench-scale pilot plant at a metallurgical laboratory. Eliminating the 50 tpd pilot plant will save considerable time and money should a positive feasibility study be produced early next year.

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