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Gold/Mining/Energy : The Molybdenum Discussion Board -- Ignore unavailable to you. Want to Upgrade?

To: jackjc who wrote (1454)	11/29/2005 2:30:38 AM
From: David	Read Replies (1) \| Respond to of 3267

No, I am referring to the technical report published on Saturday on Sedar. Smaller operation, of a little higher grade ore (0.13%) with just over a years worth at 1000 tpd based on Montana's Small Miner Exclusion. The report has a 'full' cost analaysis in it near the end for operating the quarry and trucking to the contract mill. Roasting has not been finalized yet but he does talk about it, how it was traditionaly 0.50/lb but has gone up significantly. He uses $3.00 in his cost analysis for roasting where he came up with break even moly price of about $20 for the quarry. He does mention that there are introductions ready to be made when the time is right regarding roasting - I'm not sure what to make of that sentence. He is using $12/ton mile for trucking which seems a little high to me, hopefully they can find some savings in there. It kind of sucks about the reduced reserves, but unless Montana changes its regs so they can open-pit the 131M tons of ore or UNB can demonstrate significant depth for an underground operation the lifespan looks limited. He does talk about including another area into the quarry's operations but I'm not up to speed on that part, possibly a year two thing. The 'plan' outlined though seemed pretty reasonable to me.