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Post# of 2340343
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7Secret7Service7

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7Secret7Service7

Re: None

Wednesday, 10/27/2010 12:42:10 PM

Wednesday, October 27, 2010 12:42:10 PM

Post# of 2340343
SELR is going after the relief canyon!

The bankruptcy auction is held Nov 26
http://reliefcanyon.com/Home_Page.html

1) Relief Caynon technical report shows 262,000 ounces of gold, but admits all surface area and and depth ranges were not modeled. For sale purposes, FGOC has to post 262,000 ounces for sale, but the true estimation is a minimum of 430,000 ounces at .037 (ounces per ton). That means you would need to mine 27 tons of rock to get 1 ounce of gold, and this is on par with what Newmont, the worlds largest gold producer does. In fact, Newmont averages 30 tons of rock mined per ounce.

(430,000 ounces at 1350/oz is $580M by the way)

http://reliefcanyon.com/uploads/Relief_Canyon_Marketing_Presentation_-_Final2.ppt

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