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Gold/Mining/Energy : The Molybdenum Discussion Board

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To: PayShhhhence who wrote (3203)	8/1/2008 6:28:40 PM
From: PayShhhhence	Read Replies (1) of 3267

Info presented in the TV show is roughly 7 mos. old…………. WE LONGS knew most of this already, HOWEVER expanding the Ashdown moly reserve by 3 Xs was a nice surprise.... drilling incognito at Ashdown????? Hmmmmmmm....... GPXM anticipates $30 mil in revenues this year…. MORE than 2Xs last years production ($12 mil). PREDICTS full production at Ashdown THIS year……. Indications of moly along strike FOR 3 MILES. Couldn't read the map showing the 3 mile strike line... but I'm guessing it is MOSTLY SOUTH WEST of Wex's land package because Action Minerals has the land package to the north east. AND I THINK on the left bottom portion of the picture you can see the Ashdown Tailings pond........ Strong indications TO 4500 Ft....... They expanded the Sylvia vein out to 1200 ft. vs. the original 800 ft. IF they have cores data up to 4500 ft, and they are claiming the grading is consistent THEN that would explain WHY they are going to triple the resource…... that or the phantom drill rig did it..... 1200 ft X 3 = 4600 ft……… Both properties will post reserves this year………. MR in ground 500K ozs (600K ozs mined in past)……… for 1.1 mil ozs. ONE of our list of objectives includes: • Drill up to 140,000 feet at Mineral Ridge over the next two years to contribute to our feasibility study, building up our gold and silver reserves “We are drilling at an average rate of 350 feet per day” IF we managed to continue at that rate, 20 days a month in two years we could realistically achieve 168,000 ft in two years. WHEN we have the NEW drill team trained up and active the teams will rotate 7 ON 7 OFF….. this of course results in a heck of a lot more cores than in representative 168,000 ft….. obviously we have to factor in maintenance & downtime for repairs….. so let’s throw out 5 days a month…… and assume that SOME of the maintenance/preventative maintenance is conducted daily /weekly and included IN the 350 ft per day numbers. THAT gets us in the neighborhood of 315,000 ft over 18 months roughly from this point forward. Steel in the ground INDEED!!!!!!!! ODDS of taking that to 5 mil ozs is very good……… (SO… 5 mil ozs – 600K = 4.4 mil ozs I’m guessing that’s how they came up with the 3.5 – 4.7 mil ozs figure in the MR.pdf) Cash flow from MR in 2009…… even says possibly late 2008. We will see…….

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