Gold and Silver Juniors, Mid-tiers and Producers Message Board

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

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To: AuBug who wrote (43053)	6/22/2007 11:42:16 AM
From: maxncompany	Read Replies (2) of 78426

That's your perogative, of course. But facts to consider................ the scoping study was produced by an independent firm, not the Reids. So are you calling the Reids liars, or are you calling Lyntek Inc. liars? the ore is fairly high grade for a near surface, open pit. local labor is pretty cheap. The Reids are very conservative, in that they are always trying to keep shares and costs down. As for US Gold, that was basically on care and maintenance for many years, as the Reids waited out the long bear market and did not want to issue shares. They only got up to about 19 or 20 million shares before McEwen arrived, not bad for a 20 + year old company. They had a 1 million + ozs. deposit that they wanted a JV partner to fund and put into production, they did not want to issue shares to get it into production. With cash flow, further drilling/exploration would happen. That all changed, of course, when Mcewen took over.

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