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Gold/Mining/Energy : MOLYMANIA the race is on -- Ignore unavailable to you. Want to Upgrade?

To: Condor who wrote (69)	1/22/2005 11:26:19 PM
From: Rocket Red	Respond to of 336

Silver Challenge for anybody guess the closing price at Feb 28 2005 and win 100oz bar silver sinosilvercorp.com.gosynapse.com

To: Condor who wrote (69)	1/22/2005 11:35:34 PM
From: maxncompany	Respond to of 336

Well, none of it is 43-101 compliant, but there is an historical resource of about 146,000 tons of 2.9% moly (about 58 pounds moly/ton). Also, a separate deposit on the same property of about 1.1 million tons at 1% moly (20 pounds moly/ton). There is also 2,000 acres on the property as yet not drilled. They are currently waiting on permits, and are told they will hear on that by sometime this March. The expectation is that beginning production is possible at that point within 60 days and an expenditure of around $500,000 (costs borne by GPXM). Pilot mill 100 to 200 tons a day. Later, 500 to 700 tons a day. I don't have depth figures for you, but I remember reading that much is near surface. There will be at some point both open pit and underground mining, though I believe most will be open pit. They have a pilot mill waiting nearby and will put it on the property once permits are received. As for what they will find on the undrilled 2,000 acres....I have not seen any numbers nor even speculation on that, so it remains a possible wild card. As for the operator GPXM, they had a recent executive shakeup and have at the same time declared this moly project (Ashdown) to be their top priority. As for what will WEX.V do with the profits? Dividends or an acquisition or??? I don't know. But I will say this....the top man at WEX.V has a lot of WEX.V shares. Forgot to add that GPXM has already contracted Derrick Raphael & Company, Ltd. to market the moly with a life-of-mine contract.