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

To: Ironyman who wrote (30569)	2/22/2003 12:40:41 PM
From: steadyasyougo	Respond to of 34075

Eric, I see your point. If gold takes off, surely it will be at a faster increase than the price of cyclones and Knelsons. Thus, more profits could accelerate plant(s) construction. Hope you are right about less than four years. Time will tell. Needless to say, we need at least 50-60 plants to reach the level of Newmont's production, which I think I read was 8M ozs a year. Of course, I am assuming some of the plants will be running at more than the 11,000 tpd prototype and at average recovered grade of 1 gpt. For you newbies out there, some convenient numbers to use in number crunching, at 1 gpt recovered grade, about 1.17 gpt head grade, is 79.4 ozs per acre-foot, 2471 tons per acre-foot. For 0.5 gpt average, half the 79.4 number. Fortunately, we have 74,000 acres, lots of which are in conglomerate. One 11,000 tpd plant would take about ten years to chew up a 1000 foot mountain with a 15 acre base, or a 500 foot mountain with a 30 acre base. We have lots and lots of these mountains. The amount of tons is for sure. The average grade of 1 gpt is something we will have to wait to see if it is true. If we get only 0.5 gpt average, then we will be reduced to 4M ozs a year. Unless we double the number of plants. LOL. Newbies, it has been reported that the conglomerate ranges from 1600-8000 feet deep. Some is above our head, say 1000 feet, suitable for block caving. Some, we will have to dig down, in the future when we have some cash flow. Put these numbers in perspective with the fact that one prototype plant will take 10 years to chew up a 15 acre mountain, just by block caving 1000 feet. It is very difficult to comprehend the immensity of the property and ore that we have. Keep the faith. gerald