PINL:VLTAF - Post by User
Post by
ALLEN4on Jan 22, 2013 2:44pm
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Post# 20873466
High River Gold with a market cap of 1.17
High River Gold with a market cap of 1.17 billion, opens its second mine in Burkina Faso
This second mine has measured and indicated resources of less than 2 million ounces. Its cash costs are 600 to 700 per ounce. Look at their news release and you will be amazed at how quickly they got this mine up and running. It does not surprise me because Burkina Faso is hungry for mines. The country gets 10 per cent revenues, and as well, these mines are major employers in an impoverished country. Its like having the country of Burkina Faso as a mining partner; the same can not be said of many other so called "safer" countries. As for goings on in Mali, it has no effect whatsoever on mining operations even in Mali. Randgold's largest concentration of mines is in Mali and according to Bristow its business as usual. Consider High River Gold; consider Essakane (IMG) and consider the quote below from the recent news release, and there can be no doubt Kiaka will become a mine one way or another.
Significantly, the Measured and Indicated Resources now stand at 4.86 Moz of gold, representing a 10% increase, while the Inferred Resources remain unchanged at 1.0 Moz of gold. The Kiaka Gold Project now hosts the largest undeveloped gold deposit in Burkina Faso and one of the largest undeveloped gold deposits in the West African region."