Wednesday, August 20, 2014 1:19:33 PM
• Based on resources, we should be able to produce 6-8 years at strong grade.
• Infrastructure around the mill is excellent and includes good 2-4 lane highway access.
• Bal indicated to me that the property is located in the same vein system as the already 1,000,000 ounce low-midgrade open pit Briggs Mine owned by Atna Resources. This means that there potentially could be a lot more gold than what Echo Bay originally estimated at CMC’s Radcliff property.
• The mining costs seem very low. CMC’s joint venture partner estimates that it will cost $150/ton to mine a ton of material. Transportation costs are estimated to be $30 per ton to the Bishop Mill.
• The company currently has $200,000 in the bank and will need that money to put the mill into production.
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