Southridge Enterprises Inc (SRGE)

[I-Glow]

I know SRK Consulting very well. But, the don't help mining companies with SEC filings - they don't do that type of consulting.

The information you posted is accurate.

IG

PS If you had read the Goldcorp financials you would have seen that the All In costs were $1200/oz.

Without knowing the accounting methods used there is no way to find the exact cash costs but there is NO HIDING the All In Costs.

The Goldcorp All In cost numbers mesh nicely with the following report.

A complete breakdown of costs, an all-in cost figure, courtesy of CIBC, shows cash operating costs pegged at $700 an ounce, sustaining capital, construction capital, discovery costs and overhead at $600. Add in $200 for taxes and you get US$1500.00 as the replacement cost for an ounce of gold. Using the all-in figure provides a more accurate and definitive picture of actual mining cost and profit. Also, according to CIBC World Markets, the sustainable number gold miners need is $1,700/oz. As I write this gold is trading at $1726.00/oz.

It’s obvious that its very expensive to operate a gold mine and it’s not going to get any cheaper. The reasons behind flat-lining gold production, and record cash and all-in costs, are numerous:
Production declines in mature mining areas
Slower than expected ramp-ups of output
Development time up

The entire resource extraction industry suffers from a lack of skilled people
Extreme weather
Labor strikes
Protests

You can argue as much as you want but I used the numbers from the Goldcorp AUDITED financials.

Again, my point wasn't the exact number - although mine are correct - it was about the faulty DD being provided by the Pro-SRGE guys.

He was taking the POSSIBLE reserves from a Behre-Dolbear SCOPING study (NOT A FEASIBILITY STUDY) and multiplying that by the current gold price. This is not only incorrect it is false and misleading.

Oh No - PWNED

IG