Kinross hopes to complete a pre-feasibility study by the end of the year that will evaluate expanding the current plant at Maricunga as well as adding a second crushing plant.
"(This expansion has) the potential to increase production significantly at this site," Burt said.
"We first began to evaluate this expansion in late '08, the initial scoping study was positive and with a current reserve base of 6.5 million ounces and resources of another 2.3 million ounces, plus further exploration potential, this opportunity to expand at Maricunga could bring forward significant value to shareholders driven from existing assets."
Burt said Kinross's expansion and exploration projects are aimed at lowering production costs while improving margins on increased production.
And the company continues to look for other opportunities to expand organically, added chief operating officer Tim Baker.
"We continue to focus considerable effort on further organic growth, evaluating opportunities for lower costs, increased throughput and extended mine life at our current operations, particularly the possibility of expanding production at Maricunga," Baker said."
Andina has 6.6 M&I and 3.3 INF plus further exploration potential...sounds familiar.
"evaluating opportunities for lower costs", andina estimate around 500-600$M to construct the mine (for comparisons sake, Osisko's malartic mine will cost about 1$ billion.)
Volume hasn't been low over the past year so what is holding down this stock? or what will bring some life back into this stock, if not the report of major neighbors pursuing growth, if not the purchase of more adjacent land, if not a reasonable bought deal to raise funds, if not a good management team with experience, if not a sizable resource?
i didn't buy into this stock because i thought it was going to be taken over, though that would be nice, i figured the SP would rise as i thought gold would, didn't think that was being to optimistic.