Hi Mike. Our most recent activity is in the drilling and exploration of the acquired Santiago Lipangue and Carin properties. The project, under the direction of Gordon House, is mapping a major breccia zone identified by Gordon House and sampling and testing the placer deposits. An estimated 100 million cubic meters of alluvial deposits, with an average of 0.6 grams per meter, with an estimated mining cost of $120 per ounce of gold has been identified in the Lipangue-Carin claims.
This is called, feed the potential investor BS, before the meeting! House is "mapping"a major breccia zone and sampling and testing! mapping/sampling/testing don't give reserves/resources or anything of value! This is a "I hope that I have" statement!
.6 grams per meter ( must be per cubic meter) NO ONE, and I mean NO ONE can mine such a low grade deposit for $120 per ounce!! They state no copper credits or any other credits that would alow them to buy down such a low grade deposit.
The trick here is they didn't say "CC" per ounce. "Cash Cost" per ounce IS THE TOTAL COST OF BUILDING THE MINE, BUILDING THE HEAP LEACH FACILITY, BUILDING THE INFRASTRUCTURE, PAYING THE WORKERS, BUYING PHOTOCOPY PAPER, COFFEE FOR THE STAFF LOUNGE ETC. ETC.!!
My prediction CC will be $280US !! If MDIN management reads the thread, lets here from you?
the Chief |
