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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: jackjc who wrote (20041)	9/4/2006 2:03:19 PM
From: E. Charters	Read Replies (1) of 78408

Mining if you do it right earns money 100 to one on drill plays. All drill plays do is drive stock and not with any certainty 95% of the time. Some say small mining does not earn money. I know of a few cases where it did. Personnel from RMKL ran a small mine on the Norbeau and made money in the early 80's. We took an option on that mine. Ed Ludwig of Timmins ran a small mine in Emo Ontario, at high grades and made a bit of money. Simple mile, few tons per day. Basically RMKL is a small mine. Their moly op will cost them about 4 million. Trouble is with small mines is not the capex equation but raising it, as most do not see grade=profit and most of the time cannot calc it so back out. You need to know mining to see it. I see the ore dump thing as the best mine. Not exciting? Well exciting if you see how easy it is to do compared to an underground op. There were many many small mines in BC that went from year to year. I knew one in New Denver, B.C. that ran steady in the 80's in silver. The Silver Dollar in BC ran by John Mcgoran of Wellgreen fame and Fleck resources made 2 million dollars. McGoran threw the money into chasing ni-cu and for years stayed in the drilling racket. Say what you will about the 16 to One in California. But they are still operating after ten years. Can't be that foolish. At 600 plus gold, small mining makes a lot more sense than it did in the 90's. Best small mine I can think of is the Magnet. For perhaps 6 million we can produce 120 ounces day. Small is beautiful. EC<:-}

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