Silicon Investor (SI) -- The First Internet Community

STOCKTALK

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 : Manhattan Minerals (MAN.T) -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (2650)	6/29/1999 3:31:00 PM
From: mineman	Read Replies (1) \| Respond to of 4504

The oxide-layer varies from 4 to 18 m (13 to 58 ft) so would be impossible to mine without high dilution which would reduce the grade from .16 oz/t down to .08 oz/t gold in the 4 m. thick areas where dilution would be 100%. The overlying 18 metres needs to be blasted which costs many times more than just overburden and the average strip-ratio would be in the 2:1 range which is way too high for a relatively low-tonnage strip-mine. At $.65 per pound copper the underlying deep copper-sulphide beds are uneconomic so the gold zone is the only layer of possible interest. At $260/oz gold it would cost more to relocate 5,000 people and then strip the overlying rock and mine and mill the low-grade gold layer than the value of the gold in the rock. The entire project is therefore uneconomic even for the small tonnage east of the river beyond the town where there is about 150,000 ounces of gold (gross value = $37 million). It's obvious this layer sitting under and adjacent to Tambo Grande will never be mined.