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schadenfreude

07/12/07 11:24 AM

#412 RE: traderdad44 #411

Oh really?
1. There is no working mine in Canada (unless you count the promoters working out of Scamcouver)
2. The Mexican mine is hardly the stuff dreams are made of. From Raven's website:

The La Currita mine was in steady production from 1983 until 1998 and is estimated to have produced about 200,000 tons. Available production records from 1993 to 1998 show that 129,000 tons a with an averaged grade of 2.33 g/t Au and 191 g/t Ag (5.27 Aueq) were produced during this period.

A troy ounce is ~31.1 grams. 129,000 tons x 2.33 g/t Au x 1oz/31.1g = 9,664oz Au

129,000 tons x 191g/t x 1oz/31.1g = 792,250oz Ag

So this wonderful gold mine produced 9,664oz of gold and 792,250oz of Silver over a six-year period. (Note that this was 10 years after startup.) That's about 1,600oz of gold per year and 132Koz of Silver. At today's prices that's $2.7mm per year of revenue. That's before costs, profit is much less; the mine was shutdown because it was unprofitable. And Raven only owns 25% of it.

Very unimpressive.