GOLDBUGS AMEX Goldbugs Index (GOLD)

[trdwatch]

Don't know the details of the property but if they don't have the lease of the land in hand or bought the land or at worst waiting for a former permit to expire, this permit could be tricky because there is almost always someone else lying in wait to swoop on the permits with backdoor deals and I've never known it not to be ruthless. If it's the latter, that's a red flag and I wouldn't touch it imo.

I've set up pretty large mines from exploration/discovery (1 year) to engineering & contract the mine set up to building all new mine Equip, to set up, to start up to maximize production (say 350 tons/hr.) in about 24 months from exploration to crushing rock and that was with problems. It was an above ground mine with shallow blasting too and very high grade ore. Our building Equip. contract alone was a little over 4.2 million in '95 and I was about $11K/month more supervising set up.

That's the least expensive part which has gone up astronomically since then. 10's of millions more went into ground work/equip and processing plant... fwiw