anyone ever see this 70% slw option /corianiI can't recall Peter Barnes mentioning it ever .......
bcm board si board links
https://www.siliconinvestor.com/readmsg.aspx?msgid=22989606&srchtxt=andrew
https://www.stockhouse.com/bullboards/viewmessage.asp?no=13793787&t=0&all=0&TableID=0
"So here's the interesting part: Silver Wheaton Corp. (SLW) owns 19.1% of Bear
Creek and Bear Creek has an agreement to obtain a 70% interest in Corani from
Rio Tinto PLC (RTP) if it can pay US$5.4 million over three years through 2008.
There is also a clawback option for Rio Tinto, which is dependent on certain
resource hurdles being met.
Given that Bear Creek is sitting on US$11.3 million as at the end of June, and
that there are 6 million warrants well into the money sitting out there, Bear
Creek Mining looks set, financially.
"Our burn rate is about $1.5 million a month, so we should get through the
pre-feasibility study and make our payments to Rio Tinto," he said.
The site - which is way up at 4,500 to 5,000 meters - will be an open-pit
mine, with a low stripping ratio and recovery rates in the 80% silver, 60% lead
and 60% zinc range.
"I'd much rather have (elevation) issues than social issues," Swarthout said,
adding that transport and power concerns are a non-starter, what with a new
highway being built and the national grid some 20 kilometers away from the site."