New Information on Silver Wing Copper/Lead/Zinc Mine per press release-
Nice to see some news though key information still not disclosed.
Per press release if my math correct:
Grade of gold - .023 ounces per ton
Grade of silver- 1.77 ounces per ton
Using $1600 ounce gold and $35 ounces silver,and their projected 2009 mining costs of $150, even without calculating recovery dilution, it is clear that gold and silver are by-products.
However copper/lead/zinc seem to be where main revenue will come from, and nothing wrong with having a copper/lead/zinc mine !
Glad to see some news, though nothing to indicate whether resource is per canadian standards inferred indicated or measured, or per SEC practice if it is mineralized material ( i.e. indicated and measured per SME standards).
This continual releasing of "metal in the ground" without estimates of recovery losses, capex required, etc is probably just inexperience on part of CFO and CEO of public junior mining sector. Hardly would NI43-101 criteria and practice support this, but as American geologist perhaps just a learning curve for CEO to learn NI43-101 criteria and practice.
.02 grade gold for underground vein mine is very low.
If they say mine is potentially economic, what recovery and CAPX assmptions used ? or is the report availabe anywhere ? Why is management so hesitant to release tehese estimates ? They really need someone who understands junior mining sector to guide them- or spend an afternoon loking at press releases from junior mining companies reporting results per NI43101 standards.
Pretty simple really, just a few estimates per the press release they must already have :
1.tons
2. grade
3. what category of resource
4. tons projected per day
5. recovery losses
6.operating costs per ton
7.capex required
8.costs required to meet permit.
Lot more one could ask for but these are the basics.
However to give credit, nice to see some information released, hopefully a trend for the future.Company controlling a mill advanced in permitting prcoess with potential for custom milling a great asset, just wish they would stop issuing unrealistic metal in the ground estimates which inexperienced investors think for some reasons equates to net value.
