Replies to post #63246 on Southridge Enterprises Inc (SRGE)

[1manband]

You are wrong again. Scoping studies are not the same as feasibility studies. Wikipedia is not a recognized source for regulatory and legal information. Geez - Not even close. This is mineral exploration 101 - basic stuff.

Tumi didn't even make it that far. If you read the last Tumi Report, you will see the author recommended additional work would be required in order to even begin a "pre-feasibility study". They were years away.

A full feasibility study requires YEARS of work and tens of millions of dollars to complete. Cinco Minas does not have one.

[Lone Ranger 2]

How many times are we going to see this?
Bandera Gold did a NI-43-101 on Cinco Minas in 2007.
The information in that SRGE drivel should not be included in any DD.
Oh right the SRGE FRAUD does not want to give Bandera any credibility.

FROM THE BANDERA GOLD WEBSITE
Some highlights of the NI43-101 Technical Report completed on December 11, 2006, and filed with the TSX Venture Exchange, in addition to selected information regarding our anticipated work schedule for the next six months to a year, are as follows:

The chronological history of the Cinco Minas and area mines illustrates the vast potential of this overall mining area to support economical mining activities today and in the future. Bandera Gold Ltd., together with our joint venture partner Minera San Jorge (MSJ), is making considerable positive strides to make this happen.
New low level aerial photography and GPS controlled survey work will be undertaken during the early spring of 2007 when vegetative cover is at a minimum in order to proceed with field exploration and mapping of known mineralized deposits in the El Abra and El Abrita areas of the Cinco Minas property. This will allow for new three dimensional mapping to be completed in order to be able to prepare a thorough block model of the fault structure and related cross structures.
Test production of high grade materials (old tailings dump material and other materials obtained from small high grade deposits on the Cinco Minas property) will be commenced between late February and early March when construction of the 60 tonne/day mill has been completed. There is sufficient high grade material within the old dumps (greater than 6000 tonnes selectively determined) to run the mill for at least 100 days. Assays taken indicate an average grade of 3.32 g/t (0.104 oz/t) Au and 324.2 g/t (10.42 oz/t) Ag (see Appendix 1). This works out to a total value of metal recovered of approximately $1.1M (US) or about $330,000.00 (US) per month, assuming an average gold price of $640 US per oz and an average silver price of $13.20 US per oz.
Additional high grade feed for the mill will come from the Destajos and Trinidad level adits as well as other high grade areas which have been and are being identified. This high grade material will be blended with lower grade materials from Cerro Colorado and/or additional old tailings dump materials. It is expected that sufficient volumes of high grade material will be available to run the 60 tonne/day mill in a testing mode for at least an additional year and that these will provide sufficient feed for the 250 tonne/day mill (to be constructed later this year) for at least as long. Sampling in the San Diego Cross area of the Destajos level produced an average grade across 6.3m of 4.0 g/t (0.125 oz/t) Au and 458 g/t (14.35 oz/t) Ag (see report at page 1).
Bulk sampling has been completed at the crest of Cerro Colorado and this lower grade material will be used in a test heap leach operation with the objective of expanding the heap leach pad to at least 500,000 tonnes over the next six months to a year. An agreement has been reached with the local council to develop an area of approximately 244,750 square meters (24.5 hectares) for use in the test heap leach operation (see page 27). It is expected that the pad will be ready for initial heap leach testing by late summer or fall of 2007.
The mineral resource volumes for indicated and inferred resources have increased to 7.07 million tonnes from 2.67 million tonnes in the previous report of March 2006 (see Mineral Resource and Mineral Reserve Estimates at page 81). This is triple the previously reported volume of mineral resources based on the very structured and concise format required under NI43-101. The resource is representative of approximately 235.70 thousand oz of Au and 23.33 million oz of Ag. These quantities of gold and silver are representative of a present supportable valuation of the project according to NI43-101 of approximately Four Hundred and Sixty Million dollars ($460,000,000.00) US at the present day gold and silver prices of $640 per oz Au and $13.20 US per oz Ag (see page 85).
To date, references from older reports have indicated that only 20% of the known main Cinco Minas vein system has been tested. Bandera intends to continue field work begun in 2006 to identify new sources of mineralized sections. It is expected that this work will considerably enhance the reported mineral resource volumes given in this technical report. The technical information contained in this news release was collected, compiled and reviewed by Richard Munroe, B.Sc., FGAC, P.Geo., a qualified person under NI43-101.

[I-Glow]

So stervc, from what you wrote it seems like you are saying the following is a good thing. There is nothing to lead anyone to believe that there is any value in Cinco Minas:

Tumi Resources confirmed huge value from the research of the Cinco Minas property and that a "scoping study" as indicated below was done…

http://www.prnewswire.com/news-releases/tumi-resources-limited---tumi-abandons-the-cinco-minas-project-jalisco-mexico-54443987.html

…Although a resource was established for Cinco Minas, the results of a scoping study previously undertaken by Behre Dolbear (see press release dated June 4, 2004) indicated a very high strip ratio for an open pit mining operation, such indication having been confirmed by in-house studies performed by the Company's technical consultants. …

A very high strip ratio is EXTREMELY bad in surface mining. Plus you left out the following:

Additionally, a review of an underground high-grade mining option gave resource numbers too low to be of interest to the Company, particularly when having to deal with a large number of historic open stopes.

High ratio for surface mining and dangerous mining conditions for the underground mine AND here is the kicker,

a review of an underground high-grade mining option gave resource numbers too low to be of interest to the Company

Where do you see anything good in the Tumi press release?

The low reserves and the poor mining conditions are the reason Tumi wrote off $3 million and abandoned Cinco Minas and why it is still abandoned.

IG