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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (92606)	7/19/2012 11:39:16 PM
From: TobagoJack	Read Replies (2) \| Respond to of 217750

Have committed to and paid for a substantial position (not in terms of nav but % of project) in an Australian gold mine project Message 28278600 tagging along with my mining mentor who is one of three cofounders of the deal. While this is not my first mining private equity deal, it is one where I am participating and the cofounders / early stage angels are in w/o consideration of how to get out. There are currently no IPO glimmer (bad market) and no trade sale hope (too small a project). We are only counting on digging, processing, stacking, counting, and digging some more, in a self-sustaining way. The funds invested will go towards the purchase of an operating mill for oxide gold ore, at 40 cents on the original cost and for equipment that is essentially new, built by Germans who are rather... how do I put it politely ... rather retentive w/r to quality and maintenance. The mill processed quite a lot of ore in 2011, and shall be restarted w/i 90 days of taking control, as the Germans de-camp gold to get into titanium. Less the cost of the mill which accounts for 50% of the funds raised and to be raised, the other 50% goes to exercising options on a bunch of adjacent oxide and sulfide gold mine sand exploration claims. Part of the profit from first stage oxide gold ore processing shall go to putting up capability n capacity for sulfide gold ore processing. Bottom line is that we the gamblers are putting up usd 20 for each ounce of good in the ground that is effectively minable at cash cost of aud 800 per oz (average cost across the oxide and sulfide ore reserves). No, I have no idea of what I am talking about when it comes to oxide whatever and sulfide whatever else; not yet; not until I have a chance to google. The fun (and terror) of the project shall be my intended distance to the center of action. For I may take an active role in observing up close each and every stage of the operation, from digging, processing, stacking, off-taking, capex, construction, counting, and digging some more. To engender enthusiasm for digging ... stacking in little jack, I have purchased the complete set of mining operation vehicles in 1/76 scale metal models including his favorite Volvo dump trucks. He loves the way I move pile of raw rice from one corner of a big paper box to another corner. Shall watch n brief on the adventure. Cheers, tj