GREY:LACHF - Post by User
Comment by
Framfondon Mar 07, 2009 11:24am
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Post# 15828089
RE: RE: Production ownership
RE: RE: Production ownershipRetiringYoung!
You are having good questions!
White Foil is not even included in the number presentation I made in my last post. They are trying to get a milling agreement for 2,3 years for the proven reserves to get an early cashflow (30.000 oz/year). With good luck they will start already this year. After that they might build a mill with a capacity for maybe 60-70.000 oz/year (my guesstimate), as they also have more than 500.000 oz in measured+indicated resources to upgrade to reserves. That will give them another 7-9 years of production on a much higher level than the first phase that you are mentioning.
With their excellent cashflow during 2009/2010 it is possible for them to finance the construction on that level. After that they can go on for many years at all 4 mines. Mine number 5 might come from Ivory Coast as they are having 1% of the whole nation as their exploration ground. The area is excellent and some awesome mines has been successful in that belt. Ivory Coast is a great place for a mining company to work.