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Gold/Mining/Energy : BALACLAVA MINING (BIL.V)
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To: Tom Harper who wrote (81)8/19/1998 8:34:00 PM
From: chevalier  Read Replies (2) of 139
 
If they discover something of merit then I think it would be fair to value the deposit in a similar fashion to that of FGX. Most of the companies who are trading at values of $2-$3 an ounce have very small deposits that no one wants in this environment or are in politically unstable environments. Ecuador is stable like Mexico. It BIL finds what they think they will then it will be a deposit that starts from surface making it open pittable. While we cannot know the costs at present it is fair to assume that this is not going to be a high cost deposit to mine. The property is only 50 miles from Quito and has a dry season as well as a wet one. There won't be the complications of a Refugio that Bema has. Also a mining stock is always more exciting before the discovery is made and that is the reason that many of us play this game. I for one never hold shares through discovery, feasibility into developement
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