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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: jackjc who wrote (4056)	1/3/2006 11:06:54 PM
From: Dr. Rock	Respond to of 78408

I'm sorry, I think I had a problem making my point. The economics of the deposit at the time was not in question. But the discovery was made long ago, and if you look at the exploration expenditures of Placer/Kennecott (or Kennecott for Penasquito or Echo Bay for Paredones Amarillos as other examples) versus the purchase price, the price per ounce equivalent (as may be the case) was very low (less than the expenditures). That's why I say the risk was taken out: this is exploration risk; risk of metals prices is apart. I did not intend to belittle the effort to make the mine, which is the key in the end. I just wanted to point out that this (these) are far from new discoveries. Saludos and happy new year