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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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To: E. Charters who wrote (59658)5/24/2008 2:25:29 PM
From: AuBug  Read Replies (2) of 78424
 
Wow! Drilling's cheap up north! $8,095,000/241,209 ft = $33.56/ft. I've heard core drilling is more like $100/ft. A year ago a Nevada geo told me he was paying over $200/m = $60.82/ft and costs have done nothing but go up. Even still that's 133,098 or so feet of drilling. So what would you do if you were [t]VIT[/t] and you thought you were going to find enough ore to mine it? Which path would get you to a "positive feasibility study" the fastest?

I'm thinking that with [t]KGC[/t] owning 27% of [t]VTSRF[/t] shares and [t]NEM[/t] having a back-in agreement they'll keep Cove-McCoy their top priority but I don't know if really makes sense to go under ground now that you've explained how expensive it is. Maybe [t]K[/t] and/or [t]NMC[/t] will foot the bill to expedite the project.

"Victoria is earning up to a 100% interest in the Cove-McCoy project through annual work commitments, such interest being subject to a back-in right in favour of Newmont Mining Corporation for a 51% interest or a US$1.5 million cash payment to Newmont and a maximum royalty of up to 5% upon the delivery of a positive feasibility study completed by Victoria."

A bit dated site I hadn't seen before. I like their enthusiasm: VICTORIA RESOURCES-A NEW CHAPTER OF NEVADA EXPLORATION HISTORY? wallstreet-online.de
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