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

To: Walt who wrote (17852)	4/7/1999 9:57:00 PM
From: E. Charters	Read Replies (2) \| Respond to of 26850

I wish I could mine those South African Fissure veins too. They are vertical and narrow and high grade were they mine them. Labour is a tad cheaper than here. Here we produce about 11 tons per stope man day in shrinkage and about 4 to 5 tons per day per employee. That required Ore that is near 160 dollars a ton return to the company to make a profit right now. So If they are one carat per ton they had better be very good carats to go mining. Since valuation is iffy without a trial mine situation and many tons, that is the only way to establish profitable ore. In this situation they will have to do cross dip room and pillar long wall or scram drifting. This can be done long hole I guess if they are clever about mining it but I would still hate to tackle 2 million tons if it only averaged 80 dollar ore. We are hearing from the promoters here about many dream tons but I have seen nothing from the company indicating that it will get to that visionary stage. EC<:-}