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Gold/Mining/Energy : Gold and Silver Mining Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (173)	3/11/2000 6:56:00 PM
From: lorne	Read Replies (1) \| Respond to of 4051

Hi Claude. Here's some info on Holmers silver deposit. ÿ ÿ ÿThe Loma Hierro silver deposit, which was discovered by Holmer in late 1994, is a 50:50 joint venture with Cuba's GeoMinera S.A. " The resources are distributed in about 10 separate shallow deposits scattered over a 1 km2 area and contain approximately 9 million ounces of silver in the indicated category and an additional 1.4 million ounces in the inferred category." " ÿ ÿ ÿ The initial mine plan is based on a mineable reserve in the main deposit which is estimated at 280,000 tons of ore containing 4.8 million ounces silver at 16.6 ounces of silver per ton, in two pits over a period of 2.1 years. Mining would be by conventional open-pit methods requiring minimum blasting with a strip ratio of 1.8:1. The silver mineralization is mainly silver chloride minerals which are amenable to cyanide leaching, yielding high (80%) recoveries in less than 4 days of treatment." " ÿ ÿ ÿCapital costs as a stand alone project have been determined at $7.0 million including pre-production expenditure (Holmer's share would be 50% of the total). An economic evaluation based on silver price of $5.50 per ounce of silver indicated an internal rate of return of 57% and payback period of about 12 months. Cash production cost is about $2.20 per ounce of silver produced. The project is sensitive to large changes in silver price, grade and capital costs." More >>> holmergold.com