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Tuesday, March 12, 2013 12:05:47 AM
sorry... an email just came in via one of my sites ( nothing to do with stocks ) and a free member sent it ... quickly looked on iHub for da symbol and just wanted to say ... lol?
... not bashing it or anything ... just rarely do I ever see stocks promoted on my sites ... lolzzz Canada’s Next Copper Producer
VMS Ventures and operating partner HudBay Minerals commencing production at the Reed Copper Mine in 2013
Reed Mine - Report February 2013
- Ramp development is now down 200 metres laterally.
- The sinking of the escape raise is on-going, currently down 25 metres.
- A new MacLean bolter and new jumbo have been added to the fleet of new equipment.
- Completed over 339 days without a lost time accident (LTA).
Summary of the Reed Mine’s Economic Assessment
Initial production at Reed is expected by Q 4 - 2013 and will ramp up to full production of approximately 1,300 tonnes per day by Q1 - 2014.
Average expected reserve ore grades of 3.83% copper, 0.48 g/t gold and 6.02 g/t silver, slightly better than PEA due to the exclusion of the inferred resources in the pre-feasibility study.
Assumed metal recoveries in HudBay’s Flin Flon Concentrator of 94% copper, 58% gold and 62% silver.
Production ~ 17,000 tonnes of copper metal concentrate per year.
Total operating costs estimated to average approximately $90 per tonne milled ($67 per tonmne ining, $16 per tonne milling and $7 per tonne administration) over a five year mine life.
Sustaining capital expenditures are expected to total approximately $52 million over the five year mine life.
Pre-Feasibility pre-tax NPV (8%) of $57.4 million using weighted average metal prices of US$2.95/lb. for copper, US$1,269.09/oz. for gold and US$24.78/oz. for silver.
Reed Mine - HudBay Minerals:
http://www.hudbayminerals.com/English/Our-Business/Development/Reed/default.aspx
Reed Mine - VMS Ventures:
http://vmsventures.com/Projects/Manitoba-Properties/VMSHudBayJointVentures/VMS-Ventures---HudBay-Joint-Venture-Project/default.aspx
Website: http://www.vmsventures.com
Symbols: VMS.V / VMSTF.OTC
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