Mining In Boliva
Theres an article(Northern Miner) about a small junior mining company
Orvana Minerals(Orv.to).Has nearly completed a diamond drilling program
at its Don Mario copper -gold property on eastern BOLIVA.
82% of the planned 6100 metres have been drilled.
gold values varied from 4.5 grams per tonne over 0.9 metre(11.6-12.5 metres)in hole 134 to 35 grams over 2 metres(105.7-107.7 metres) in hole 130
They plan on a combination .of open pit method and underground mining.
Minable reserves are pegged at 1.47 tons grading 12.95 grams of Gold.
Studies by Billiton and Pincock Allen&Holt indicated that the project could support 750 ton tonne per day milling operation capable of producing 100,000 OZ gold per year for five years, at a cash cost of roughly US$105 PER OZ.
Now do you think GE (MINE) got know gold.
We all know , they got a shaft and mining.
We all Know , they tested the surface for gold, so did junior above
with drill and got good results.
Now we know junior above is mining it for 5 years for only 500,00 oz of gold.
now we know junior above 500,00*105.00 per oz=52,500,000 cost over 5yrs.
now at 500,000 at $290.00 oz =145 million -52.5 mil.for cost=92,500,000 profit
there must be gold there when you see alot of mining companys there
starting to mine and getting good results.
and on the plus side cheaper to produce and better returns for shareholders that article printed May 25/98.If anybody wants to go out and buy one , good little paper you could learn alot from it , worth the investment if you want play mining stocks.Now can you think of them having resuls like junior if they drilled at the 100 metre mark.
Sorry for the long post , hope I didn't bore anybody. |
