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 : Golden Eagle Int. (MYNG) -- Ignore unavailable to you. Want to Upgrade?

To: Keith Hodgins who wrote (28472)	9/30/2002 9:12:50 PM
From: Fred C. Dobbs	Read Replies (1) \| Respond to of 34075

I think the whatchamacallit takes the dohickey stuff and sticks it in the thingamagig and then the yellow stuff comes out. Sorry, but that's all I know. If you haven't seen this reprint of GE in Bolivia’s premiere resource and mining magazine, Energy, Mining and Construction, it's got some great info. geii.com Over the next two years, to that metallurgical work Dr. Atwood and Dr. Viscarra added studies and observations on the behavior of the conglomerate material and found that it would subside to one draw point opened at the end of a number of lateral workings for the purpose of mining using “conal subsidence”, which has been characterized as a form of block caving without the need of expensive interior mine infrastructure to cut the ore block. By designing a mining method that pushes an adit under the ore and allows the ore to subside to various draw points built with reinforced concrete at the end of lateral drifts, Dr. Atwood created an ingenious, inexpensive mine plan that would take advantage of the mountainous terrain formed by the conglomerate. Effectively, each draw point would be extracting ore from a vertical column cutting across several highly mineralized pay streaks as well as the lower grade material between the pay streaks, for a higher average grade. In a fortuitous turn of events, and after years of lobbying, the high power distribution network installed a 25-megawatt line directly over the entire length of Golden Eagle’s property. Through the use of electrically powered conveyors for ore haulage and tailing impoundment, in addition to all ore processing, the company was able to project extremely low costs per ton of ore mined. Using an average target grade of 0.25 grams (0.008 troy ounces) of gold per ton of ore mined, which is well below the grades estimated in all of the combined sampling, Dr. Atwood estimated a very low cost per ounce of gold produced of less than $75. The key factors in the operation are high volume earth movement (11,000 tons per day); inexpensive electricity for ore haulage, tailings impoundment, and processing; an inexpensive, well qualified labor force; and recoveries of free gold in the range of 95% due to a flow sheet that effectively separates the clays and recovers fine gold into the –10 micron range.

To: Keith Hodgins who wrote (28472)	9/30/2002 9:53:41 PM
From: Digrdug	Read Replies (2) \| Respond to of 34075

Keith “the Doug thing” can actually answer some of your questions! “how dirt goes in at one end and gold comes out of the other end” One gram to the tonne (metric tonne = 2200 lbs) is one part per million. Not much! So the dirt (fine material) is separated out of the larger stuff, the “overs”. The fine material is then beat up to clean the sticky clay off of the gold particles and then the gold is taken out using gravity. Gold is about 18 times the density of water and the dirt is only about twice the density. The whole works is sloshed around in water in various machines until the gold comes out the bottom and all the other stuff goes out the top. “isn't the gold, once separated, pure gold?” It is pure metal but not pure gold. The gold mined in that area is about 90% gold with the rest being mostly silver and copper. It can be made directly into jewelry without being refined, only diluted. “why would it have to be assayed or whatever?” The buyers only pay for the gold content, we give them the rest. ”once whatever it is that is getting separated comes out the other end, then what?” It is all of the heavy metal particles and a bunch of dirt sand etc. This is separated out by various measures and then is smelted into a “dore” bar. A propane furnace melts the material and various fluxes are introduced to get the metal to spit out impurities that do not go into solution (Chemistry 11). After a while in the furnace the metal is poured into a mold to make a bar. This is taken to the buyer and samples are drilled out for assay. The seller gets about a gram for a check assay if they think it is necessary. “How do they keep track of how many tons they are putting into the thing?” Bingo!! Now you know one reason why I call this company a scam!!! Just more opinions

To: Keith Hodgins who wrote (28472)	9/30/2002 10:40:03 PM
From: ge-believer	Read Replies (2) \| Respond to of 34075

Keith, the current underground operation uses small rail cars to move the material. Their volume is known, as is the density of the material, so all that is required to estimate the amout of material being processed is to count the cars being filled. Obviously, with the open-pit part of the operation, the dump trucks can easily be counted.