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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (319)	10/25/2001 4:45:24 PM
From: Claude Cormier	Read Replies (2) \| Respond to of 39344

Russ, The negative I see is that I read that Salamandra has some of metallurgical, environmental and local people problems that will need to be worked out. The challenge for Millar is to increase the low recovery rates of the high grade stuff. Of course, if gold explode to $350++, then this is another ball game. The problem is if gold stays below $300, then NGT and AAS must split a 1M resource ( the high grade stuff at Mulatos) that is not economic as it stands now. 500,000 ounces of sub-economic ore is not worth much to either NGT or AAS. In other words, the coming program must prove that higher recovery rates can be achieved. What I don't know is if they will have enough money to test out other targets at Salamandra.