Major General--MGJ Message Board

STOCKTALK

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 : Major General--MGJ

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Larry T. who wrote (532)	7/24/1998 8:56:00 PM
From: donkeyman	Read Replies (1) of 1707

Today's St. John's Evening Telegram Business section "JUNIOR MINER TO HAMMER OUT GOLD DEAL" MGJ has signed a letter of intent with McWatters Mining Inc. to develop the Hammerdown and Rumbullion gold deposits near Springdale. The deal calls for a mining feasibility study within 12 months and construction of a mining facility within the following 12 months. Glenn Shevchenko,MGJ president, expects the deal to be finalized in about a month.The Hammerdown deposit is estimated at 614,000 metric tonnes graded at ~ 18 g/tonne (356,000 ounces) The reserve is close to the surface and should be one of the lowest cost operations in Canada ~$150 per ounce. Shevchenko thinks there are some nice high-grade zones there to make a profitable mine. Let's hope this news portends a similar announcement in future regarding pots and pans at SVB! Good luck to all.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next