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Re: 1manband post# 2696

Tuesday, 08/12/2014 5:51:22 PM

Tuesday, August 12, 2014 5:51:22 PM

Post# of 3961
You may know this, but others may not. The Golden Wonder operators, due to the nature of the discontinuous rich telluride material, are not at this time doing traditional grid drilling. Instead, they have been doing exploratory production, for a few years. The goal being to again locate the main rich telluride. By following the offshoots as they have been doing, the ore, being so rich is able to pay for the exploration. Their actual production costs, even for the current "byproduct" of exploration, are very low, and are self sustaining. Therefore, if and when they do return to full production, the mine should have no problem being extremely profitable.

They were profitable, when the 133k odd ounces were produced at grades of 16 opt, but gold prices were very low at that time, and then the rich shoot they were following petered out.

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