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Gold/Mining/Energy : WillP Speaks on Winspear
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To: Gord Bolton who wrote (133)3/27/1999 3:54:00 PM
From: WillP  Read Replies (1) of 177
 
Greetings Gord:

Last things first...yes I anticipate wandering into the zoo. Three subjects bookmarked? Gee...I have six, and that's just for the Winspear ramblings. :-)

It would make sense to "slim things down a bit", wouldn't it. I'll wander over with my next "original" post...and this one can drift off to sleep.

I note with interest your SouthernEra and Rex data. Of course, I've already examined it, but others may not have. The only comment I'll offer is that the economics of mining depend on getting more value out than you spend to get it out. Seems simple.

For the most part I suppose it is. Mining costs will be much higher at Snap Lake, and we aren't sure of the grade. Yet. However, if you accept a value of $400 per tonne value, and a $100 per tonne mining cost...then clearly the break even point is removing roughly three tonnes of waste for every tonne of ore. If you assume a minimum 3.0 metres needs to be removed, then the break even point would be somewhere around 0.75 metres thickness. All of this is in round numbers, of course.

I do think the prospects for this project are excellent given the data available to date. As far as the daily movement in the stock price goes...I really don't know...and probably care little.

I'm in for the long haul...and one could also say...I'm fully invested. :-)

Regards,

WillP
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