NBRI's(.065/.07) latest aquisition>>>>>>The RUBY MINE...
This is a Strategic Acquisition of Potentially MAJOR Importance
Plant, Equipment, Permits, and Site Infrastructure
Site inspections conducted during June and July, 2010 by C. Gary Clifton, a certified professional geologist (P.Geo.) retained by the Company as an independent consulting geologist to inspect and assess the Ruby Mine, and by management in September, 2010, confirmed that the Ruby is in excellent condition, and has been well maintained despite having not been operation since 1998. The equipment currently on-site at the Ruby was mostly purchased in the period between 1990 and 1995 when the mine was last in production, and is therefore between 15 and 20 years old. The equipment, including the wash plant and mill facilities, has been confirmed to be in good working order, though some minor upgrades are expected to be needed once operations resume. Upon the exercise of our option to purchase, management believes the mine can be placed back into operation in a very short period of time.
The equipment, fixed assets, and infrastructure in place have been valued at an estimated $3.5 million, and include a 1,000 yard per day placer wash plant, 50-ton per day quartz mill, 6,000 feet of tracked haulage, and related support equipment needed for underground mining operations. A second exit, the Lawry Shaft, almost 2 miles from the main portal, can provide natural ventilation for much of the underground workings. Surface buildings and facilities include a lumber mill, machine shops, offices, and accommodations. The property also features an excellent system of roads, is accessible via paved highway from Reno or Sacramento, has abundant water and timber available for mining purposes, and has PG&E power available on-site.
Geological assessment work carried out by Mr. Gary Clifton, P.Geo., during the summer of 2010, including extensive research to evaluate the resource maps and data from Brush Creek Mining’s operations in the 1990’s and Alhambra Mines in the early 1980’s, has identified 3.03 miles of unmined channel and 0.95 miles of partially mined channel available for mining using the existing infrastructure. The following table provides the estimates of each channel surveyed by Mr. Clifton in July, 2010. In compiling the data, the Pilot Channel is considered the northern extension of the Black Channel and the Mt. Vernon Channel is a tributary. In addition, the stretch of Black Channel between the Big Bend and the Lawry Shaft is designated as partially mined, as is one-half of the stretch of the same channel between the Lawry Shaft and the mined portion of the Pilot Channel at the northern property boundary. All measurements are in feet.
An estimate of unmined gold was obtained by extrapolating the known average mining width and height of 200 by 6 feet, and an average historical grade of 0.164 ounce per cubic yard (27 cubic feet). It is further assumed that partially mined channels contain 50% less gold. From these calculations, it is currently estimated that 134,844 ounces of gold are available for near-term recovery from these channels using the existing Ruby infrastructure.
Partially mined channels: (200 x 6 x 5,000 x 0.164 x 0.5)/27.0 = 18,222 ounces
Unmined channels: (200 x 6 x 16,000 x 0.164 x 1.0)/27.0 = 116,622 ounces
Total (inferred) unmined ounces: = 134,844 ounces
MY NUMBERS HERE:
Even at $550/OZ extraction/smelting cost and allowing for wholesale to retail discounts (so $1,100 per OUNCE)
134,800 * $1,100 == $148+ MILLION
production......... $ 74+ MILLION
say Overhead, G&A.. $ 12 MILLION
Reasonable BTax Profit Estimate $62 MILLION
10 times earnings $620 MILLION projected CAP ~~~~ over $6 per SHARE
Additional channels as well as lode deposits in quartz veins are known to exist on the property. These will require additional development and no attempt has been made as of yet to estimate the amount of gold they may contain.
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