'Pueblo Viejo is located in the Dominican Republic, approximately 100 kilometres northwest of the capital city of Santo Domingo. Barrick holds a 60% interest and is the operator with Goldcorp owning the remaining 40% interest. Pueblo Viejo is on schedule and within its pre-production capital budget of $2.7 billion (100% basis). Post start-up, an additional $0.3 billion (100% basis) is expected to complete an expansion to 24,000 tonnes per day. Initial production is anticipated in the fourth quarter of 2011.
Barrick’s equity share of proven and probable gold reserves at Pueblo Viejo increased to 13.4 million ounces as of December 31, 20081. The mine life is expected to be over 25 years and Barrick’s share of annual production is expected to be about 600,000 - 650,000 ounces of gold at total cash costs of $275 - $300 per ounce2 during the first full five years of production.'
barrick.com
Lot of history to this mine, much of it not pretty, was operated by the guvmint for years, and not well, big mess ... but it's huge, and gqc has claims right beside, and in all directions not far away ... they've been in the DR for many years, were the first modern geos there i think, got their pick of claims from the start
There's also Cerro de Maimón operated by Globestar [sp?] gmi.to ... forget where this is in relation to what else, but the gqc website has good maps, link is in the header above
I don't mean to pump this thing short-term, just figured it deserved its own thread and i'd start one before TSL did -g- ... really don't have any idea of timing in re the spanish Lundin SL deal, and sort of wonder if mgmt has any idea yet ... but it's overall competently run, they are definitely not spendthrifts, they haven't done effective promo but i'm hoping that was only because then they didn't have to, and now that they do have to, they will |
