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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: scorpion who wrote (11244)3/29/1998 7:51:00 PM
From: Jan A. Van Hummel   of 20681
 
Cash production costs for currently active mines run between about
$250 - $400 per ounce of gold for normal gold levels.

I read the $100 per ton for JL method handled raw material to be over
and above the normal cash production costs.

Your observation has certainly value. However, aside from the above I
rather see the mine become (or have the potential to become) operational
at processing rates of 10,000 tons a day or thereabouts (an equivalent
of abt 1500 ounces of gold (very possible plus silver plus platinum) than
try to run a substantially lower volume using the JL method.

First, volume will be difficult to attain. Second, can the ideal conditions
of a lab be replicated in the field thereby ensuring these high rates?

IMO if the JL method is that good and can be easily replicated we certainly would
have known already. The fact we have not seen a thing yet means to me that
while it is quite possible there were high results, but that these may not
have been replicated in subsequent test, or subsequent tests may have yielded lower
results. Either way I would derive far greater comfort from accelerated efforts
to delineate the field based on the fact that the results to-date point
indicate that economical development is viable if the field is large enough.

Time will only tell, but time (and money) is also of the essence.

JMHO

Jan
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