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Gold/Mining/Energy : Silver prices
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To: Ron Everest who wrote (689)2/10/1998 10:13:00 PM
From: rdww  Read Replies (1) of 8010
 
Cash - not much - under 6 figures - they are raising cash via a PP probably as we speak. Burn rate - tricky question. Their Republica property - the old silver mine - is just starting a drill program. SDD owns the drills - so it's labour and part replacement costs here. They have spent the last few months doing drilling as required for their pre-feasability on the Promontorio. So the activity in the past few months is not indicative of a normal burn rate. What money this company gets seems to go into the ground. Both properties are I think 100% SDD w/ NSR's on both. A JV partner for the Republica is what they would like + I suspect they will find if the Ag drills come up as big as they think they will. A partner here would allow them to go back to further work on the Promontorio - which is really where they feel they will make a lot of $$. Pre Feas #'s to date suggest a $170T value and mining costs in the $50 range.
Hope this helps.
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