GREY:DRGDF - Post by User
Comment by
Roundtripon Jun 11, 2008 7:27am
244 Views
Post# 15170293
RE: Was a date announced
RE: Was a date announced"The Company is extremely confident in meeting its objectives of outlining a mineral resource of over 10 million ounces of gold at Detour Lake. The Company expects to release its mineral resource update on July 2 at 5:00 PM ET followed by a conference call on July 3 at 10:00 AM ET. The base case will be using a gold price of US$700 per ounce (equivalent to 0.5 g/t cut-off grade) and a US$ exchange rate of 1.10. The resource update will be based on a fully designed and engineered open pit based on a 30,000 tpd operation for the first few years and increasing to 60,000 tpd thereafter. This scenario will serve as the basis of our 2008 feasibility study to be completed by year-end."