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Gold/Mining/Energy : Golden Eagle Int. (MYNG) -- Ignore unavailable to you. Want to Upgrade?

To: Jim Bishop who wrote (11307)	7/27/1998 11:14:00 AM
From: Proactive	Respond to of 34075

The Tipuani-Mapiri Gold Basin The center of this alluvial gold basin is Guanay, a small community of about 9,000 people. Guanay is accessible by a mountain road from La Paz and is situated where the Mapiri, Tipuani, Coroico and Chalana Rivers flow together to form the Kaka River. There are various suppliers of commonly needed goods in the town and skilled labor is readily available with wage rates are in the range of $1.00 to $2.00 per hour. In the 1950s a large bucket wheel dredge was flown into the area and it worked a concession of about 20 kilometers in the Kaka River. The owners declared a total of more than 18 tonnes of gold in a period of 25 years but local lore has it that many more tonnes were smuggled out of the country to avoid the high taxes of the period. A conservative estimate of a total production of 25 tonnes would equal over 250 million US dollars at today's prices, or about $10 million per year. A Russian company, using very inefficient mining methods, operated on a concession on the Kaka River until June, 1996. Some months they reported production in excess of 40 kilograms of gold or about $480,000.00 US gross production. Bolinvest had a study done that concludes that in most cases the production on the properties in this area suffers from lack of up-to-date technology and that in the beach and river bed placers the bottom .5 metres, before bedrock, is by far the richest zone.