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Non-Tech : The Woodshed -- Ignore unavailable to you. Want to Upgrade?

To: rubbersoul who wrote (44641)	12/20/2007 11:15:42 PM
From: dara	Read Replies (1) \| Respond to of 60914

The following excerpt was taken from their transcript: JIM: I noticed that when you're looking at your economic model going back in February 2006, it showed an internal rate of return of roughly 31%. I imagine those numbers get better when we look at silver prices today over 14, and even with this correction in gold, we're still close to $800 in the price of gold. I imagine that enhances the economics? MARK: Substantially. We are doing a new economic model right now. We updated our resource model because all of the economics are based on our bankable feasibility study which is two years old and the resource that was in that was closed off at the end of 2004. We've done some drilling since then. And we updated our resource model last summer and had that audited in a 42-101 report prepared and put on SEDAR in July. And that added about 23% to our resource. So we're doing a new mine plan, mine schedule, and an updated reserve model and economic model. That will be done – it's supposed to be done at the end of this month, but because of the amount of work that most of these outside engineering firms have I'm giving – they promised at the end of the month – but I'm expecting to have it hopefully at the end of month but more likely the first or second week of December. If we do get those results back early enough in December, I'll put out a news release with our new economics, which should be very robust because we’ll have current prices in there and a much bigger resource. Otherwise if it gets too close to the Christmas holiday, I'll wait until January to put the news out because it will be lost in the holiday. [19:54]