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

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To: loantech who wrote (51518)	11/1/2007 7:20:34 AM
From: Ed Ajootian	Read Replies (1) of 78419

Slan, Freegold Ventures (ITF.TO, FGOVF.OB) -- They are into small-scale production up at Grand Summit as we speak. This is not gonna make them rich, I estimate only around $5 M a year in cash flow -- see post #49035 for my calculation. But for such a small company, even just $5 M a year coming in will do wonders. Their G&A is very small so this puts them into positive cash flow before cap ex. Also, they are looking into the possiblity of packing up their production rig up there and moving down south for the winter, where it could generate more cash flow. As to any larger upcoming production, this is probably at least 2 years out, more likely 3. They are probably about half a year away from getting out a feasibility study on their Almaden property in Idaho, but it will probably take a solid year or maybe even two to get the environmental permits over there. Sorry I took so long to respond to you on this, I got busy with work, and $90+ oil can be very distracting for an oil & gas investor (such as I am)!

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