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

To: Kim W. Brasington who wrote (7641)	12/24/1997 2:34:00 AM
From: GlobalMarine	Read Replies (1) \| Respond to of 20681

<<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.>> Given the yields that the company has reported thus far, 10,000 tons a day is indeed VERY significant production. In fact, 10,000 tons a day, 365 days a year, yielding only 3 oz/ton of gold equivalents adds up to some 11 million oz a year of goodies, a truly staggering amount of production. Given the "shake and bake" treatment to the head ore, I've often wondered whether the infrastructure required to treat said head ore is too massive for the Johnson process to work on a production scale. Luckily, the high PM yields per ton help tremendously. For instance, some 200,000 oz of gold a year may be considered a very respectable amount of production for any upstart junior gold mining company. Assuming only 3 oz/ton of gold equivalents, 200,000/365/3 = only183 tons processed daily. This amount of daily tonnage doesn't sound bad at all, IMO. Any other opinions here? Rand