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Gold/Mining/Energy : Armada Gold 10 Million oz of Gold & 1 billion lb of Cu !
AAU 0.380-5.0%Sep 29 5:00 PM EST
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To: Mr Metals who wrote (385)2/27/1998 11:20:00 AM
From: Taylorm.  Read Replies (1) of 552
 
This is from Canaccords cup of coffee this morning:
ARMADA GOLD ("AAU-TY" 80M shs ) - 8 Million Ounces Of Gold And
Billions Of Pounds Of Copper. Armada holds an 85% interest in the
Baley gold project, Siberia, which contains a world class 8 MILLION
ounces of gold. The feasibility study estimates the cash operating
cost will average a $166 an ounce. A particularly favorable aspect of
this massive project is that higher-grade ore can be produced in the
first two years of operation. The study estimated production in the
first year to be 267,000 ounces rising to 324,000 ounces in the second
year of operation. Cash operating costs would be US$140 an ounce in
the first year and US$120 an ounce in the second year. It is expected
to produce an additional 200,000 ounces per annum for another 9 years.
Armada Gold also controls a 49% interest in the Erdimin SX/EW project
in Mongolia which has the potential to host BILLIONS of pounds of
copper. The cash cost of operations is expected to be just $0.30 per
lb of copper on site which will make it amongst the lowest cost
producers in the world. A study is underway being led by Merubeni of
Japan (due in June) to determine the feasibility of expanding the
production 5 fold.
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