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Gold/Mining/Energy : ARP - V Argentina Gold -- Ignore unavailable to you. Want to Upgrade?

To: Bat Man who wrote (823)	10/29/1998 10:36:00 PM
From: G.T.	Read Replies (2) \| Respond to of 3282

Yes it can be mined by open pit. This is the only way this deposit will be mined if it is mined at all. This is a long way from being a mine. To move one tonne of overburden costs on average $1.00 To strip what they have uncovered to date would cost approx $6 million and probably $15 to $20 million if this makes it to a pit design. The big question is the cost of the mine and associated infrastructure. This operation will have to be big or it will not go at all due to economies of scale. Capital costs look to be well over 100 million dollars U.S. The company needs continued holes of over 2g gold to have a legitimate shot at a mine at todays gold prices.