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Politics : Gold and Silver Stocks and Related Commentary
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To: ogi who wrote (17353)8/17/2005 10:28:28 PM
From: E. Charters  Read Replies (2) of 18308
 
Those guys don't sell. (no pun intended) They don't have anywhere near 5 million ounces. At 500 feet deep and 200 feet wide and 2000 feet long, and 3 grams, they would have about one point five million ounces.

If you substitute wild imaginings for experience and knowledge it is easy to invest. It costs 50 cents a ton to build a mine and about a dollar a ton to mine it. A Mine has about 100 promotional dollars per ton in it, so it is 98% pure profit. You cannot lose.

Once a promoter drills a hole in a new area that is sufficiently far offshore that on one can check it, he can generate about 800,000 tons of ore, or 50,000 ounce per drill hole. All foreign orebodies run about 2 to 3 grams per ton and have fantastic mining widths with no effective stripping ratio, as the waste is just lower grade.

20 drill holes, which take about, a real 6 weeks to drill, are usually stretched out over 2 years in order to build the stock price and raise all kinds of money. One million ounces. It is slam dunk.

Tragically few of these orebodies ever get mined. Problems range from local resistance arising because of their being left out of all the fun, to metallurgical problems. Mill money is just not there.

Have fun.

EC<:-}
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