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

To: Michael Bidder who wrote (26913)	1/13/2004 1:14:48 AM
From: ralfph	Respond to of 39344

Re Navidad - tough call. Basicaly it is now a drill bit play.I am no longer following it much because I am not holding IMR but I am holding a fair wack of Tinka . One way or another I will make a few bucks on Tinkaand they are on some sort of trend from Navidad. Will the stock climb ? Sure it will as long as the reserves turn into resources and this Bull continues to run. But there is no such thing as a sure thing. Aliens might arrive , the sun might go super nova , old George might find his brain . Any of the above could cause a small economic bump in the markets . later ralfphieeeeeeeeeeeeeeeeee

To: Michael Bidder who wrote (26913)	1/13/2004 8:11:49 AM
From: E. Charters	Read Replies (1) \| Respond to of 39344

The most economic deposit at present is the IMA treasury. This allows for the deposit of shareholder's funds at prices favourable to IMR, making their market cap about 70 million dollars, or already discounting a million ounces of gold/70 million ounce of silver. They need to drill twelve million tons to prove up this amount of silver at 6 ounces per ton. At 150 feet wide and 500 feet deep that is 20 drill holes on a 2000 foot strike. However at that grade, that many ounces will not make a mine. They need four times that, or 80 holes. That is a lot of drilling to hit every time. In Argentia, that is 2 million dollars to complete. PFN with their 35% carried interest, and over 100 holes with a 96% hit rate is a better bet for a large, 4 million ounce Pt mine, and it is 1/2 the market cap of IMR. PFN is on it's way, IMA is a still a head scratcher that they will prove the tonnage AND ownership AND mineability legally AND metallurgy too boot. If IMA finishes the holes and predicates a mine, and IF the legislature does not shut them down, and IF AQI is not by then awarded the property, then they have to raise the money for a 20,000 ton per day operation, normally 200 million for the mill and 75 million for the open pit. in Argentia, it will cost them 500 million. So now they need twice the ore, or 100 million tons. That is 3 miles of strike. I wish them luck. EC<:-}