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Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: Metacomet who wrote (100189)	12/1/2007 10:43:02 PM
From: E. Charters	Read Replies (2) \| Respond to of 312889

Gee Whiz! What do you suppose they mean, superlatively speaking? hmmmmm... I guess they believe in the evils of necessity. I am not concerned with the language that much. They are telling the story and hitting the highlights. That much is true. The early indications are that they have found perhaps 500,000 ounces in the two lenses, without much delineation. That is the arm waving back of the envelope sort of thing. In fact it is not nearly as much promoted as Miramar was. The full court press of Miramar's stuff on very few drill holes, its lenses very widely separated over a very long strike length in their 'new gold zone' was always underscored heavily by murmur of potential and some very heavy stock buying to get them into the dollar range. In fact some companies like Roxmark had a dozen holes of good grade for every Miramar hole. And much better clustering of economic looking gold lenses. The only thing Miramar had over Roxmark was "newness". Rox always had the "old mine" smell, the "narrow vein" whisper. People always discount that in broker land. But they did not with Goldcrop of course and Gold Eagle which is just the down-plunge of the Dickenson Mine in Red Lake. What made Miramar suffer finally was their very slow approach to ounce building, and the very remote location of their stuff. This underscores what I feel about the brokers and retail buyers out there. They are gold-naive. I will bet not many of them, Brokers, and retail stock buyers alike could name five CDN gold mines, let alone their average mining width, tonnage, grade and mining method. Camp grades? Average camp mining widths? Hit rate of drill holes? Forget about it. How about Bond Gold, early 80's. How was it discovered? etc.. try this on.. average mining width 3.8 feet, discovered by a geologist wandering over an outcrop 30 miles west of the old mining area, Pickle Lake. Average grade 0.35 OPT. How did they develop it? Flew every piece of equipment into Muskesegagan Lake by DC3 on floats. Fly in development - also Camlaren Mine. Time to build the Camlaren from discovery? 8 months in the NWT. Time to build the Bond Gold deposit? I think it was 2 years. Average Grade of Umex Thierry's Pickle Crow? 0.35 OPT. Average Mining width? 3.5 feet. Average grade of the Lakeshore Mine? 0.50 OPT. Average mining width? 6 feet. Number of ounces? 8 million. Tons per day, 4000 at their peak. Average grade of Kerr Addison MIne? Heyday - 0.15 OPT @ 4,000 tons per day. New age - 0.47 OPT @ 500 tons per day. Average width? Varied from 50 feet at 0.10 OPT, to 5 feet of 3.0 OPT, to 20 feet of 0.20 OPT. Very very cheap to mine per ounce. Its premier money-maker was flow-ore, (of the type Eloro resources has found recently nearby), at 0.12 OPT! But the secret was bulk mineability. It was a steady 50 feet in width, great tubes of values. In 1977 it cost $1.50 a ton to drill, blast, muck, tram and hoist the flow ore. I am not kidding I mined the stuff and furthermore I talked to management at length about the cost of mining it. You had to float the ore and roast it to get the gold out...We mined it out of raise bored raises by volume breasting or lateral ring drilling. Macassa in Kirkland Lake had a 5.5 foot average mine width. The stopes angled at 50 degrees and were supported by timbers called stulls. It's extreme nugget factor meant it could not effectively drilled off. You had to mine on faith. Average grade 0.50 OPT. This mine is now part of KGI. Canada's large mine grade leader and Dome Mines best money maker even counting its open pit mines? Campbell Red Lake. Grade 0.48 OPT average. Mining width? 4 to 5 feet. Best mining rate 1500 tons per day. Hemlo was an anomaly. Its stopes went from 15 to 30 feet wide. Grade was 0.50 OPT early on, but went to an average of 0.15 OPT after the mine matured. Dome Mines, average grade - O.24 OPT at 200 tons per day. Average Mining width 6 feet. And was it profitable for 90 years? You bet. That silly little mine was the cash-cow that built the mighty PDI company. Average grade of the Pamour (yes an underground mine) 0.09 OPT. Average width, varied but could run to 100 feet. You gotta know the industry. What is KXL finding? A new gold mine. You have to know that. These grades and widths they are finding are what are called anomalous. You just don't find that sort of stuff every day. You have to have worked in a few to see that. And how rare is it to find what they are finding all of a sudden in an old or new area? Rare. Really rare. I have drilled off a few. I can tell you. It is a once in a lifetime thing. It is not an Aurelian. However it may go much deeper and longer than Aurelian. They have only drilled at 10% of what may lie beneath the surface. If they have 500,000 ounces to 300 feet, let's say, and I am not saying that is anywhere near proven yet, then down to the depth of say the Magnet Mine, they have another Opinaca Gold Mine. And to think they have 30 KM to still drill at? hmmmmm..... double hmmmmmmmmm... EC<:-}