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Gold/Mining/Energy : International Gold Corp (IGCO) -- Ignore unavailable to you. Want to Upgrade?

To: Robert who wrote (265)	11/8/1998 8:43:00 AM
From: Semyon Kuretsky	Read Replies (1) \| Respond to of 405

Robert and All! Here are some excerpts from USA TODAY article about Carlin Trend and Mule Canyon Mine in Nevada: <<Nevada is the cheapest place in the world to mine gold, so the falling price of gold only increases the state's importance in world gold production.>> <<Since 1990, 45 mm ounces of gold, worth $18 billion, have been mined in th estate.>> <<The Carlin Trend continues to amaze geologists as a seemingly bottomless pit of gold. John Livermore, the geologist who discovered it, first thought gold might run 300 feet deep, but mining has exceeded 1,000 feet and the ore only gets richer.>> <<Canyoon Mine, among others, also uses biotechnology to retrieve the hard-to-get-gold trapped inside hard-to-process sulfide ore amounts as small as one ounce of gold for every 33 tons of rock..>> 33 tons of ore to recover 1 oz of gold! and one of the cheapest gold producers! IGCO shows ability to recover 1 ounce of gold as a result of processing only 7-8 tons of ore and again, if silver continue to be a part of of the ore content it adds to the bottom line around $19 per every 1 ounce of gold recovered!!! $19 earnings could make a lot of gold producers happy these days when margins are so thin and force to close operations... This bonus is huge!! How do we get this $19 bonus? an average recovered silver from the latest news release is 0.55 per ton. To produce 1 oz of gold 7.14 tons of ore has to be processed. 7.14 * 0.55 = 3.9 oz of silver per every 1 oz of gold current silver prices around $5 $5 times 3.9 oz = $19.6 Numbers speak the truth!!! We are going to see news on a regular basis (weekly or by-weekly) as the results from other drilled holes will be available.