look at the bright side...
I found some interesting info on the Pinon property located on the prospective Carlin Trend in Nevada. The N1-4301 needs to be verified but it has a low strip ratio and drill results indicate it has further upside.
During 2004, RSM has been engaged with Federal and State agencies in the
process to obtain all of the necessary permits to advance the current
"starter-pits" measured (6.2 million tons of 0.046 gold equivalent,
approximately 288,000 ounces with waste to ore strip ratio of 2.72/1) oxide
gold resources to production as indicated in a NI-43-101 property
report, August, 2003. The estimated grade for the first two-three years
of production is 0.06 opt gold. The gold-silver systems have potential
for expansion and seventy (70) drill holes are permitted that will be
directed toward increasing the measured resources.
https://cnrp.ccnmatthews.com/news/releases/show_print.jsp?action=toolbox&showText=all&actionFor=442858&industry=Mining
Goldwedge:
| Category |
Tons
*TF = 13 |
Grade
opt |
Ounces
gold |
|
|
|
|
| Measured |
280,030 |
0.313 |
87,775 |
| Indicated |
252,762 |
0.367 |
92,872 |
| Inferred |
972,295 |
0.389 |
377,864 |
If they can get to 500 tons per day as they say they can , should be about 40,000 ounces per year factoring in 10% reduction in ore grades, delays etc. Wont happen overnight. However, if the resorces are there and everything goes well, it wil likely take 2 years before they get to 40-50k ounces per year.
Then Mineral ridge: Currently producing 30, 000 ounces per year. Adding ounces from Mary Pit plus can increase the stacking of ore by 30%. Should be producing 40,000 ounces next year. If they go on to build a mill (only if they can justify the cost and need to prove up the existence of a super pit-recovery rates will go from the current 65% to 90%)
Can easily see these guys as a 80, 000-100,000 ounce producer in three years if everything works as planned.
O.K now tear me to shreds everyone!