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: loantech who wrote (61604)	10/13/2008 8:56:07 PM
From: Claude Cormier	Read Replies (1) of 78412

I think CFO could ( I say could) be better for the following reasons: 1) the grade is higher with average of 4 g/t at the Beattie complex and 8 g/t at the Duquesne. 2) the continuity appears to be much better with all drill holes hitting mineralization. 3) CFO has 50% less shares outstanding 4) Assuming an underground mine, CFO has much better infrastructure with shafts and underground workings alreadiy in place. All is needed is extending the workings. 5) CFO has 250,000 ounces in tailings that could bring nice early cash flows that will help lower Capex. 6) CFO has better infraststructure close to mills. 7) DGC strip ratio is very high because of weak continuity which implies a lot of additional costs to move the waiste. This being said, it is hard to say which one will have better numbers. CFO need 6-7M ounces to equates DGC on a per share basis. Not sure yet it will get there. Also CFO will have special processing that will add to costs Overall, I like the two projects but prefer CFO because of the higher grade.

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