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Gold/Mining/Energy : Corner Bay Silver (BAY.T) -- Ignore unavailable to you. Want to Upgrade?

To: IngotWeTrust who wrote (3090)	1/20/2002 3:05:55 PM
From: Claude Cormier	Read Replies (1) \| Respond to of 4409

<: I'll NEVER pump it because I don't believe in the story> Do you mean you don't understand the story. With statement like this, I am not surprised: Yes, .03 gpt at 70 metres depth of SILVER is economical to mine, open pit wise. With silver at $5 and change per oz,(or $0.05 per gram)that is a tremendous contrast to 1gpt gold, let alone the other minerals that are in the overburden and economically extractable.With gold currently at $385T/oz making 1 gpt approximately $12.60, well, I believe I've made my point. <The pre-feasibility study was claiming profitability at silver $5.25 price...> Sure but what you don't know is that it was also economical at $4.50, altough to a lesser degree. Furthermore, recovery rates have improved a lot since that feasibility study, enough to compensate for the drop in silver prices. At $4.75, they will get 10% less for their product, but they will likely produce 10% more thanks to better recoveries. For your info, the starter pit ore at BAY is worth US$22.50 per ton and the high grade silver as well gold can be recovered with a recovery rate of between 80-90%. Now do you know how it cost to mine and process a ton of ore in a large open pit heap leaching operation? If you do, then how can you claim that this is not a valid and economical project?