Medinah Minerals (MDMN)

[Goldstrike]

Once an idea of the extent of this shallow deposit is made, a better idea of the profitability of leach heaping the ore might be made. Extraction costs (open pit) should be fairly low for this resource.
“A common misconception surrounding low grade deposits is that they must be enormous in scale to be profitable. The Marigold mine is joint venture between Goldcorp (TSE:G) (NYSE:GG) and Barrick. The mine has been in production since 1988 and utilizes heap-leaching to keep the cost of operation low. The operating cost per tonne is $575, and the grade of gold was 0.63 g/t in 2009. Despite being in operation for 22 years, the mine is still very profitable. In 2009, for their 66 percent stake in the joint venture, Goldcorp produced 98,000 ounces of gold from 8 million tonnes of ore.”
-goldinvestingnews.com/5488/nevada-where-low-grade-gold-deposits-can-still-be-world-class.html