For production costs I would think looking at Lake Shore would at least give a ball park if the grades are in the same area. They are trying to get down to $400/oz over the next few years. Of course even at $575/oz in cost there should be some nice profits at $1500/oz gold. I noticed Lake Shore went from about .50 to $4 in about 12 months. Not sure if that was caused by what they were finding or the fact they were getting into production?
TORONTO, March 9 (Reuters) - Lake Shore Gold (LSG.TO) expects to double the size of its gold resource over the next 12 months and aims to produce about 300,000 ounces a year of gold by 2013, said one of the junior miner's top executives on Tuesday.
"We don't think it's unreasonable to think that we may have found a new century of gold mining in a century-old mining camp," said Mark Utting, Lake Shore's head of investor relations.
He was referring to the long gold mining heritage of the Timmins district in northern Ontario, where most of the company's assets are located.
Timmins was founded in the early 1900s following gold discoveries in the Porcupine Camp located east of the city and the region's economy has since been closely tied to the vagaries of the mining sector.
Utting, who was attending the PDAC mining convention in Toronto, said the company also expects its production costs to decrease from over $575 an ounce this year to around $400 over the next three years.
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