Finally! ...
"At the proposed operating rate of 500 tpd, or 175,000 tons of ore per year, the Corporation estimates average annual production of 4,659,000 ounces of silver, 20,406,000 pounds of lead and 15,738,000 pounds of zinc at a total site cash cost of U$ 3.41 per ounce of silver, including reclamation and exploration expenses. This per ounce cost does not take into account corporate costs, general and administration costs (including interest and financing), depreciation, royalties and income taxes.
...
Although silver prices have recently been a reflection of lacklustre investor demand, industry offtake of available inventories continues at or above rates experienced last year. Demand for silver is forecast to exceed supplies in 1996 for the eighth consecutive year by an amount similar to the 125 million ounce deficit experienced last year. As a result, management remains confident that silver prices will continue to be supportive of commercial production into the future."
Excerpt from Third Quarterly Report 1996
United Keno Hill Mines
Stephen F. Powell
Chairman and C.E.O.
November 22, 1996. |
