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AIC Mines Ltd IAUFF

Metals & Mining Industrial Metals & Minerals
AIC Mines Limited is an Australia-based resources company. The Company is engaged in the exploration, mine development, mine operations and the sale of copper concentrate in Australia. Its projects include the Eloise Copper Mine, Marymia Project and Lamil Project. The Company owns the Eloise Copper Mine, a high-grade operating underground mine located Southeast of Cloncurry in North Queensland. It is also advancing a portfolio of exploration projects that are prospective for copper and gold, which include Jericho Copper Mine, Pyramid Project, Delamerian Project, Peake and Denison Copper Project and Windsor Base Metals Project. The Eloise Regional project consists of approximately 2,000 square kilometers (km2) of contiguous tenure. The Marymia Project is located approximately 160 kms south of Newman in the eastern Gascoyne region of Western Australia and covers approximately 3,600 km2. The Lamil Project is located in the Paterson Province of Western Australia.


OTCPK:IAUFF - Post by User

AIC Mines Ltd
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Comment by b00gn1shon Jul 13, 2007 1:11am
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Post# 13082503

RE: I need a synopsis from someone...

RE: I need a synopsis from someone...Australia (Paulsens) 243,000 oz gold equiv. (indicated/inferred) Argentina (Carposo) 351,000 oz gold equiv. (probable) Mexico 313,000 oz gold equiv. (probable) Fully diluted shares would be 186million. 243,000 + 351,000 + 313,000 = 907,000 gold equivalent ounces 907,000 / 186,000,000 = .005 oz / share Worst case, cost $400/oz, gross $600/oz, net $200/oz. $200 x .005 = $1(USD) per share in probable reserves This does not take into account resource extensions, gold prices above $600, or business/mining improvements that net greater than $200/oz of gold after costs. On the other hand, there are a lot of risks counting probable reserves in such a manner. Caveat Emptor
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