Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: E. Charters who wrote (68111)	11/24/2009 7:03:05 AM
From: Earlie	Read Replies (1) \| Respond to of 78405

Hi EC: "If it is so good, why haven't you been able to finance it...." Exactly. (g) Most underwriters who have looked at it quickly comment, "too small" (If you are not "targeting" a minimum of a million ounce deposit, you simply don't exist in their minds). In fact, it IS a small mine (albeit with a remarkably profitable history), hence the company has promulgated relatively modest expectations. Obviously a mistake. (g) The fault is about 6 miles long. Barrick at one end (open pit, our modest situation at the other (underground - narrow veins) Barrick produces at modest grade, ours produced (note past tense) high grade. Much of the fault's length lies beneath arable land (valley), hence it is not available for exploration. Each end of the fault lies in mountainous terrain. We have optioned about a half mile (contiguous with the mine) along the fault where decent gold geochem showings are present (parallel zones?.... geophysical work and shallow drilling should provide more evidence). No mill (all ore was shipped direct to the smelter). Both exploration and mining permits in place. As you note, it indeed "requires a special deal". Not easily accomplished but I have to admit that I am enjoying having a shot at it. I am also experiencing a huge learning curve for having stepped out of my normal tech territory, which is always a great experience. The good news for me is that the mining engineers and geologists involved are well recognized, have excellent (deserved) reputations and love the property. The in-house perspective is....... Yes it is small but it won't take much dough to find out whether there is more high grade available. If there is, the mine and the in-place permits provide the ability to get at it in an efficient manner and there sure as heck would be no problems selling the ore locally. Put another way, take a modest risk to perhaps make a decent profit over a modest time frame..... what a silly idea. (g) We shall see what Mr. Market brings our way. Thanks for the comments. Much appreciated. Best, Earlie