GREY:MPRXF - Post by User
Comment by
sazfar13on Jul 26, 2011 12:04pm
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Post# 18873797
RE: this morning I have been doing some
RE: this morning I have been doing someNice over of Madsen 3P.
When I read other companies' NR's, 1 or 2 gms gold is considered 'high grade.' I understand when Mega calls the grade at Madsen 'low' it is being compared with the other mines at Red Lake but the reality is there aren't a lot of companies in the world that are finding gold higher than 1 or 1.5gms per ton gold. A lot of them actually have a lot of ozs but less than 1gm/ton gold and are relying on the high price of gold to be profitable mines.
At current gold prices, Madsen will be a cash cow for a company such as GC if they do decide to buy it from Mega.