To all,
boy, it's hard to dig for information during the weekend (people don't stay at home nowadays!)
Here is what I was able to gather and hope that it will be as pleasing for all of you, shareholders in CLN, as it is for me.
The new aquired Zenda Mine (in California) has at present a small but PROFITABLE orebody.
The present orebody is defined, but the zone is open along strike and down deep, with very strong indications of additional gold bearing material.
The entire deposit is HEAP LEACHABLE and the tests have been completed, indicating an above average recovery. The engineering study was done by Vector Engineering & Pincock & Allen, one of the most reputable mining engineering consulting companies in North America!
All of the permits necessary to put the property into production have been obtained, and this alone is a great achivement in California!
During Jan. and Feb. we'll see a number of news releases with additional information on exploration programs/drilling/production...
I heard that Claimstaker calculated based on audited figures that at a price of US$350 for gold (somewhat bellow present price, and hopefully a lot lower than what we'll see in the future) the project will produce a NET operating profit (after pre-production expence recovery and after payment of NSR) of over US$4,000,000 ON THE EXISTING defined ore ONLY!!! What do you think increased reserves and an increase in gold price would do?
I think this is a MAJOR opportunity for Claimstaker to become a significant gold producer and to make SIGNIFICANT PROFITS for its shareholders.
Bare in mind how much FUNDAMENTALS have been added and we didn't even mention Blackdome, the Timmens property or the Nevada property...
Best regards,
Silviu |
