Friday, August 24, 2012 10:13:52 AM
Of course SIRG has not mined any ore yet! SIRG is a start-up company but it owns 80% of the Chloride Copper mine with proven reserves as evidenced by testing by 3 independent companies not some local pretend geologist like other companies. Copper cathodes were produced at the mine in 1996 until the price of copper dropped to $1 and the mine was closed. SIRG has no mortage or lease payments or the mine property!
SIRG is still in the permitting process and finally received BLM approval of their MPO.
Did you know that operating a mine without the required permits could get a company fined and shut down? Both SIRG's neighbors, Mercator and Hondo both operated without permits and have been caught.
There are many steps required to opening a previously closed mine and the operations plan and permits are necessary steps. When all the permits are approved, SIRG will be ready to surge into production and will be producing copper cathodes in 2013.
You are totally wrong about share holders dumping as quickly as possible - what is the basis for that wrong opinion?
The recent 10Q was full of positive and excellent news and SIRG is not going to drop like a hot potato because SIRG has not been pumped!
Does this look like smoke and mirrors? Looks very clear and real to me.
Definitely a real mine - hard to deny what is clearly visible on Google Earth!
This is the SX/EW plant that Mr. Stonehouse purchased the components to expand it from 5,000,000 to 8,000,000 lbs per year.
All the components are in storage onsite so it can easily be expanded. Note the building is open on that end and there is plenty of room to extend the building.
That is one huge pit and imagine the size of the tailing piles that were formed through its excavation. Those tailing piles contain 4.5M lbs of easily recoverable copper! At a copper price of $3.40 that is around $15MILLION worth of copper just in the piles! Because those piles have already been mined and milled, it will cost less than $1 to process them into copper cathodes.
The Rizzo Report increased the reserves and they are higher than previously estimated. The existing ore below the current bench levels from 3695 to 3420 values known between 3420 and 3310 could add another 13 Mlbs. Many holes were abandoned with higher than cut-off grade Cu values in and around the existing pit. Their continuation at depth could prove additional resources.
Based on the forgoing, it is safe to assume that the current known resources would provide a minimum of 50 Mlbs of ore; at 5Mlbs/annum, that would support a 10 year mine life.
SIRG is still in the permitting process and finally received BLM approval of their MPO.
Did you know that operating a mine without the required permits could get a company fined and shut down? Both SIRG's neighbors, Mercator and Hondo both operated without permits and have been caught.
There are many steps required to opening a previously closed mine and the operations plan and permits are necessary steps. When all the permits are approved, SIRG will be ready to surge into production and will be producing copper cathodes in 2013.
You are totally wrong about share holders dumping as quickly as possible - what is the basis for that wrong opinion?
The recent 10Q was full of positive and excellent news and SIRG is not going to drop like a hot potato because SIRG has not been pumped!
Does this look like smoke and mirrors? Looks very clear and real to me.
Definitely a real mine - hard to deny what is clearly visible on Google Earth!
This is the SX/EW plant that Mr. Stonehouse purchased the components to expand it from 5,000,000 to 8,000,000 lbs per year.
All the components are in storage onsite so it can easily be expanded. Note the building is open on that end and there is plenty of room to extend the building.
That is one huge pit and imagine the size of the tailing piles that were formed through its excavation. Those tailing piles contain 4.5M lbs of easily recoverable copper! At a copper price of $3.40 that is around $15MILLION worth of copper just in the piles! Because those piles have already been mined and milled, it will cost less than $1 to process them into copper cathodes.
The Rizzo Report increased the reserves and they are higher than previously estimated. The existing ore below the current bench levels from 3695 to 3420 values known between 3420 and 3310 could add another 13 Mlbs. Many holes were abandoned with higher than cut-off grade Cu values in and around the existing pit. Their continuation at depth could prove additional resources.
Based on the forgoing, it is safe to assume that the current known resources would provide a minimum of 50 Mlbs of ore; at 5Mlbs/annum, that would support a 10 year mine life.
From the Chloride Copper Mine in 2013!
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