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Gold/Mining/Energy : Golden Raven Resources Ltd (GVN)
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To: John Stokes who wrote (2697)10/28/1997 6:52:00 PM
From: JR.  Read Replies (1) of 3155
 
Wish I could have made it to the show as well.I would have asked a thousand questions or at least got into a conversation about the historical record and if Mike had spoken to anyone that worked at the mine at the time it was closed.As to the cost of getting the material out and processed it depends on a lot of factors.One needs the ore to be at least .2 oz au/ton to make money with an underground operation. One expensive factor in the equation is that there is a lot of infrastructure in the area such as an operating mill and therefore a lot of major upfront cost is saved.This allows for a quicker production startup with a lot less in proven reserves. Most open pit operations require a lot of tonnage to be moved to recover a very small amount of gold. A high grade of ore can be recovered at near the industry's lowest cost as I understand it. Cheers ,
JR.
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