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Gold/Mining/Energy : Naxos Resources (NAXOF) -- Ignore unavailable to you. Want to Upgrade?

To: W.F. Schwertley who wrote (7629)	12/23/1997 9:34:00 PM
From: Tim Hall	Read Replies (2) \| Respond to of 20681

I have not seen Mr. Struthers report, but I know of many open pit Uranium mines that were in sand, clay, silt. The water table was 40 to 50 feet and these mines were as deep as 400 feet. I doubt that Mr. Struthers really understands much about mining. All it takes is a sump lower than the bottom of the pit and some big pumps. Tim Hall

To: W.F. Schwertley who wrote (7629)	12/24/1997 1:17:00 AM
From: Kim W. Brasington	Read Replies (2) \| Respond to of 20681

W.F. Let's take Mr. Struthers assertion of "good down to 50 ft." for the sake of discussion. Let's knock off 10 feet and make it good for 40 feet. There was a report done by Geologist Clyde Davis that stated that the playa area had an estimated 183 million tons of material down to 40 feet. The playa is approximately 4 1/2 sq miles, and the theory is that the sedimentary material extends a lot farther than the playa area. Naxos has approximately 40 sq. miles of leases in the area. Now, let's divide the 183 million tons by 10,000 tons a day (not an insignificant production) and granting that there are no hitches and no down days you would come up with 18,300 days worth of mining in a years time that would translate into 50 years. Now, mine economics dictate that you want to have the cheapest production costs with the greatest amount of yield. If the margin becomes too thin between these two points, then the mine becomes fraught with greater risk. For this reason all mines are put down on paper before money is ever laid out to develop the mine. The mining fraternity calls that a feasability study. If yields are high enough, then the cost of building a mine can be boosted. De-watering of open pit mines is a common enough event in the mining world. More water - more pumps, and or other novel civil engineering recourses are open. None of these, however become of critical importance, unless the yield of the mine starts nearing the cost of extraction. Now, allow me to wish all of those reading this thread a very happy Christmas. This nation has been blessed with peace and material possesions. We have inherited much of this not due to our own merit, but because the Creator in his sovereignity has seen fit to grant stewardship to past generations. Past generations have been good stewards. We can not escape stewardship - of our families, our jobs and whatever areas that our lives touch. During this season there are many who lack - let us not forget them, for what we are stewards of is not truly ours - it is on loan to us. May GOD bless you all and grant wisdom to each who desires it. Kim W.