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Gold/Mining/Energy : The Molybdenum Discussion Board

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To: Proud Deplorable who wrote (177)	1/7/2005 5:21:12 PM
From: Taikun	Read Replies (1) of 3267

I asked a poster on Stockhouse. I couldn't find a website or email for WEX. If it was profitable at $4 it will be huge at $37. GO WEX!! Reply: Post Time: 1/7/05 16:39 « Previous Message Next Message » The Ashdown is very high-grade Moly ore. Golden Phoenix CEO Steve Craig stated that when they struck the JV with WEX that the Ashdown Mine was economic at $4/pound for Moly. At $37? Yikes! The % have to be applied to the deposit and then another amount applied to that to get the recovery rate. Therefore, you start to get an idea of how potent the smaller deposit but higher % grade mine the Ashdown is. An earlier operator in 1980 had an inferred resource of 1 Million tons at 1% thus projecting a contained Moly resource at the Ashdown of 10,000 tons or 20 Million pounds. I've been doing my calculations of the value of the deposit based on $15/lb and $20/lb. Both are awesome and much better than the other Moly horses in the junior Moly Derby! LOL!! Pancho

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