SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Bomax Resources - BXS.VSE
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: patrick bey who wrote (39)11/27/1996 5:02:00 PM
From: Sudhir Khanna   of 313
 
Patrick, here is what I know. Bomax currently has a buyer for the granite. They are willing to take at least 400 cu m per month and more as Bomax increases production. They will pay Bomax $880 US per cu m for the granite. After expenses and Suriname's share, Bomax will $615 C per cu m for the first 12,000 cu m. After this, Bomax will earn approximately $585 C per cu m. The current buyer polishes and cuts the blocks befor re-selling them to the end buyer. Bomax has plans to, in the near future with any new contracts (for which they have some interested parties), pay someone to polish and cut before selling to the end market on their own. This will increase the profit margin considerably. Unfortunately, I do not have the figures for that. They should at a 1000 cu m production level by second quarter of next year. On a another note, I thought you may want to know how Ross Glanville arrived at the $8.5 million figure for SSI. This is based on $25 US per cu m for the approximately 260,000 cu m of granite that is above ground on the property. Drill holes up to 90m deep were done 2 yrs ago and all ended in granite without any cracks in the core. Thus, Bomax is getting a grat deal as this granite can probably be mined for the next 100 yrs. (provided Suriname extends their current contract). I hope this info is useful.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News