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Re: nyjfan post# 2055

Tuesday, 10/23/2007 5:02:28 PM

Tuesday, October 23, 2007 5:02:28 PM

Post# of 65657
Underground mining is not generally profitable
until a high enough price of Gold justifies it.
This price, in the US, is about $ 500 an ounce.
We have not had this price level until the last
year or so. The last twenty years have seen the
price of Gold at around the $ 300 level. It is
only now that underground mines look attractive.

Go read the website on the last production yields
of the mines. They ranged from 1 - 4 ounces of Gold
per ton, before they were shut down due to low Gold
prices. Now, with elevated Gold levels again, they
can be re-opened.

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