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Gold/Mining/Energy : United Keno Hill, UKH, Toronto**** Opportunity Knocks!
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To: Scripts who wrote (1041)8/6/1998 4:44:00 PM
From: seeker1  Read Replies (2) of 1348
 
OK let's review the situation. Supposedly we have a mine capable of producing 5MILL ounces over the short term, (ie 5 years). At $5.00/ounce that's $25,000,000 per year cash flow. We had been expecting mill start up financing of $22 MILL. Assuming that these numbers are reasonable (please jump in people!) the feasibility seems sound.
There are only three reasons why Dynatec walked. (1) estimated costs to produce or start-up are underestimated (what are they and has Dyanatec provided the company with its revised estimates?); (2) price of silver too low or (3) unspoken reasons. I smell something strangely amiss here and we are back to square one with regards to the start-up financing.This deal is definitely FUBAR.
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