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Gold/Mining/Energy : Medinah Mining Inc. (MDHM) -- Ignore unavailable to you. Want to Upgrade?

To: Handshake™ who wrote (2323)5/3/1998 1:41:00 PM
From: WHL  Read Replies (1) | Respond to of 25548
 
If they got those properties for $5M and they have indicated reserves of 1.2MM ozs, then they probably got a steal. A more typical price would be $50MM on that much gold. The quality of the resource may be poor (.5 grams per ton) or some such thing, thus explaining the reason why the cost per ounce was so low. With the lower grades, the cost of extraction is so high that it is difficult to mine the properties profitably.


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