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 : Great Basin Gold GBG.VSE (merger of Pacific Sentinel Gold) -- Ignore unavailable to you. Want to Upgrade?

To: Emil T. Colosimo who wrote (85)	12/8/1999 11:49:00 PM
From: Enigma	Respond to of 317

It's part of Franco Nevada.

To: Emil T. Colosimo who wrote (85)	12/9/1999 9:34:00 AM
From: Dan P	Read Replies (1) \| Respond to of 317

Eric: If you go back and read GBG's latest news releases, you'll information about the Ken Snyder mine, owned by Franco Nevada (FN on Toronto). Here is the excerpt that should answer your question re: value: For those not familiar with high-grade vein deposits on the Carlin trend, an overview of the Ken Snyder mine is useful for comparison purposes. Franco Nevada's successful Ken Snyder mine is a rich, gold-silver bearing vein deposit 14 miles north of Great Basin's Ivanhoe property on the strike continuation of the Carlin trend. It was discovered in 1994 by Dr. Ken Snyder. Surface expression of the ore bearing veins is poor to non-existent and detailed geologic mapping, conceptual targeting and drilling were instrumental in the discovery process. At the end of 1998, underground minable reserves (using a 0.25 ounce per ton gold equivalent cut-off grade) were 2,726,8000 tons grading 1.115 ounces per ton gold and 12.82 ounces per ton silver totalling 3.74 million ounces of gold equivalent. Mining widths average 5.5 feet, while veins range in width from one foot to over 20 feet and average about four feet wide. Gold-silver veins occupy a complex, braided or anastomosing system of steeply dipping faults. Minable reserves were identified on seven steeply dipping veins and vein splays. The vertical extent of minable reserves ranges from 300 feet to 1,700 feet. The Ken Snyder mine was officially opened early this year at a capital cost of $84-million (U.S.). Forecast annual production is 250,000 ounces of gold equivalent per year at a cash cost of $80 (U.S.) per ounce which will make the mine one of the lowest cost producers in the world. The mine uses conventional underground mining methods and a 650-ton-per-day gold processing plant. Regards Dan