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

To: loantech who wrote (62705)	1/4/2009 11:15:11 AM
From: Claude Cormier	Read Replies (1) \| Respond to of 78426

The iron ore project is good grade but rather small between 5-10 milion tons. The good thing is that it can be brought to full production at a CAPEX of only $5 million. Once in production, it would generate cash flows similar to their 50,000 ounces of gold per year Andhorinas gold mine for a period of 5-10 years. At this point in time, it is not sure if TRY will be able to lock in an offtake agreement for the iron given the current economic condition. So lets count on the gold only for now.