Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Winspear Resources -- Ignore unavailable to you. Want to Upgrade?

To: maintenance who wrote (8491)	10/19/1998 8:26:00 AM
From: Gord Bolton	Read Replies (1) \| Respond to of 26850

Thanks Maintenance Nice to see everyone sharpening their pencils. I actually hope that Winspear will have the ability to achieve much more for the shareholders. As I have suggested before the really difficult part of diamond mining is actually finding an economic deposit. I believe that Winspear has done that. Now the question becomes, how to develop the site and get the goods to market as economically and quickly as possible. Time is money. And of course the company will have to do some planning so that when the money does roll in they have something better to do with it than turn it over to the taxman. This would not be maximizing shareholder value IMHO. For the purposes of getting some more informed numbers and debate happening, Lupin thought it economic to truck 160 km on the winter road. They would know something about mine development costs vs transport in this part of the country. "Lupin Echo Bay: 5,179 kg Au (estimated, 1996); reserves 2,186 kt @ 9.60 g/t Au Echo Bay Mines Ltd' s Lupin Mine (76E/14), near the Arctic Circle, remained the NWT s largest gold producer. Production is down slightly from previous years with the 2,177 tonne (2,400 ton) per day mill running below capacity. Echo Bay acquired the Ulu deposit in 1995 with plans to develop it as a satellite mine by trucking ore 160 kilometres to the Lupin minesite by winter road. The mine is supplied via a 580 km winter road. The mine employs 450 staff, including 50 aboriginal workers."