SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Black Swan
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: William Whitehead Jr. who wrote (3133)3/22/1999 3:25:00 PM
From: John Fairchild  Read Replies (1) of 3186
 
I just spoke with Stephen Fabian (President)for an update. You are right Whitey, it was a pleasure to speak with him.

So far they have processed 9,000 cubic meters. These gravels which are currently being processed are on the terraces. The prime areas of gravel (higher grades according to the geologists) are on the flats which can be accessed after the rainy season. There is a high percentage of fancy stones in the .75 carat range which they are not recovering right now with the current state of the wash plant. Part of the modification to the plant as it is ramped up to the 1000 cubic meters per day output will be to allow for recovery of these smaller valuable stones. They are also going to add a gravity circuit for gold recovery. These gravels contain ~.3 grams of gold per cubic meter which is a significantly higher grade than was anticipated.

Current cost of processing the gravel is about $3/cubic meter.

Diamond taxes in Brazil use to be 18% and as a result their was very little disclosure by the locals. The tax has since been reduced to 1.4% which is enhancing commercial production.

They are continuing to stake more ground and the current plans are to get about 4 wash plants up and running. The amount of ground they hold right now gives them potential for hundreds of millions of cubic meters to put into production. They sound very concentrated and focus on this new plan to produce cash flow from the alluvial deposits.

John

Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News