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Eco Oro Minerals Corp C.EOM

Alternate Symbol(s):  GYSLF

Eco Oro Minerals Corp. is a Canada-based precious metals exploration and mining development company. The Company was focused on advancing its principal asset, the Angostura Underground project. Its Angostura project is located in northeastern Colombia. The International Centre for Settlement of Investment Disputes (ICSID) Arbitration Claim has now become the core focus of the Company.


CSE:EOM - Post by User

Post by sailor8on Apr 04, 2024 6:36pm
155 Views
Post# 35971584

Anything under 1 billion USD would be a big win for Colombia

Anything under 1 billion USD would be a big win for ColombiaTake rough rounded figures from the Micon (July 17, 2015) "Angostura Mineral Resource Summary".

Drop the Silver and Copper contained in Angustura . Drop further any inferred resources and take only measured & indicated resources of gold. Which are rounded 2 thousand Koz (Kilo ounces) gold. That equals to 2 million ounces of gold. At the present gold price around 2,300 US$ per ounce and a conservative estimated 1,300 US$ per ounce production costs*, this makes a net profit of 1,000 US$ per ounce !

Thus the measured & indicated 2 million gold resources will make a profit of 2 million times 1 thousand US$ => equals 2 Billion US$ net profit.

If the Colombians have to pay to us for example only 1 Billion US$ they would make a "profit" of 100 % only with some signatures on papers.

I rounded the figures very roughly to make "the deal" clear just in principle. Anyone who believes that the resources in our Angostura property will not be mined in the future (with enviro friendly underground mining) can be only called naive, to say it mildly.
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*Aris estimates much lower production costs per ounce for their adjacent property , if I remember right.
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