(89)
May 01, 2011 07:27 pm
Conquest Resources Limited (TSX VENTURE:CQR) and
Detour Gold Corporation ("Detour Gold")
Detour GoldInterview withGerald P. Panneton
http://www.decisionplus.com/video/interviews/Corporate_Videos.aspx?id=5...are exploring for structurally-hosted gold mineralization
under a joint-venture agreementat
the Sunday Lake property
located along
the Sunday Lake Deformation Zone
east of Detour Gold's 14.9 million ounce proposed
open pit gold mine.
Detour Gold, as operator, has agreed to expend $1,000,000 on exploration
prior to September 30, 2014 to earn a50% interest in
the Sunday Lake Property.
Drilling is currently underway
by Detour Gold.
Significant gold mineralized (uncut) intervals encountered are shown below.
http://www.detourgold.com/NEWS-RELEASES/News-Releases/News-Releases-Details/2011/Detour-Gold-Reports-First-Drill-Results-from-Its-2011-Drilling-Program-at-Detour-Lake-Project-in-Ontario1124946/default.aspx
Operating Costs
Operatingcash costs over the life of the projectare projected toaverage
US$437/oz (after silvercredits).
Totaloperating costs (after royalty andsilver credits) areanticipated
to average US$454/oz.
| US$/t milled | US$/t mined | US$/oz |
| Average mining costs | 6.82 | 1.58 | 228 |
| Processing cost | 5.21 | - | 175 |
| General and administration | 1.12 | - | 37 |
| Refining charges | 0.03 |
| 1 |
| Silver credit | (0.13) | - | (4) |
| Operating costs (LOM) | 13.05 | - | 437 |
| Royalty (2%) | - | - | 17 |
| Total operating costs (LOM) | - | - | 454 |
Capital Costs Estimates (US$ unless otherwise specified)
The feasibility study is based on capital pricing as of the first quarter of 2010.
The level of accuracy of the capital costsestimates is within ±15% for feasibility studies.The pre-production capital costs are estimated at US$992 million and exclude
approximately US$83.3 million in 2010 sunk costs that will be funded from
existing cash resources. Sustaining capital expenditures over the operation's
mine life is estimated at US$580 million, of which nearly 65% is in the first four years
(mainly for mining fleet and tailings expansion).
Provisions for mine closure funding amount to US$56 million, of which
US$10.5 million is included in the pre-production capital.
The Company has entered into commitments for a portion of the long-lead items
(SAG and ball mills, gyratory crusher, and drive systems) totalling
approximately Cdn$75 million.
The mining costs estimate for the truck fleet and mobile equipment is based
on pricing received from the tendering process during this quarter.
http://www.conquestresources.net/pdfs/CQR_Fact_Sheet.pdf
http://tmx.quotemedia.com/article.php?newsid=38250525&qm_symbol=CQR
http://www.conquestresources.net/pdfs/CQR_Investor_Presentation.pdf 
My opinions are my own and and DD I post should be confirmed as unbiased
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GOLD Chart TA P&F Alert Bullish Price Objective fiat$1710.0 per ounce 1st Target
