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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG -- Ignore unavailable to you. Want to Upgrade?

To: Wade who wrote (11290)	11/8/2009 10:18:57 AM
From: loantech	Read Replies (1) \| Respond to of 48092

I have followed HL since the mid 70's so we go back aways. Poormans or not it remains in my PF. I like HL and ANV as their mines are totally based in the US. In addition the weaker dollar helps them as a stronger Canadian dollar may hurt Canadian operators. I like this also. Production this last quarter at ANV was lower than expected but not an operational problem a permit thing that has been resolved. Things are going to PERK up so to speak. <G> <Third quarter production was adversely affected by the delayed receipt of approval to operate the newly constructed cells of the Brimstone leach pad expansion. Consequently, limited pad space availability resulted in ore being placed on the old area of the pad not receiving the optimal 90-day solution application before having fresh ore stacked on top. Once the newly constructed areas of pad were under leach, flushing of solution through the older areas began to allow proper percolation through the entire heap. We expect that when solution breaks through the material we will begin to see an increase in solution flow rates and grades. While the mine did not achieve planned production for the quarter, management is confident that the mine will achieve these expected mining rates based on the Company’s analysis to date of operational performance at Hycroft, which is confirmed by historical run of mine performance of 100,000 ounces per year.> This is good also: Currently, material being placed on the heap from the Brimstone pit is almost entirely acid-leached altered volcanic material, as compared with historic material, which only contained approximately 10% acid-leached alteration. Preliminary laboratory and bulk field testing indicates that gold recovery from acid-leached material may be up to 70% to 80% and may require slower solution application rates. As these are preliminary results and, generally, controlled laboratory tests often produce recoveries that are higher than those obtained in commercial production, management continues to assume the average recovery of 56.6%. We will continue testing and tracking of recoveries to provide better confidence as to overall recoveries for this type of mineralization. A new detailed geologic model prepared in the quarter showed that material mined for the remainder of 2009 will be predominantly acid-leached material.