Gold was mined at Magino during two periods, 8,700 oz in the 1930's and 105,543 oz from 1988 to 1992. The average grade and price of gold dictate how long a mine operates. Once it becomes uneconomic, they shut down the pumps and the mine floods. Technology has improved but the big difference is the price of gold. Speaking of which, apparently it's ready to explode in August according to:

http://www.zerohedge.com/contributed/2012-08-12/more-source-input-coming-precious-metals-price-explosions

He quotes "contacts" and " extremely informed sources" which I suppose is a step up from "a friend of a friend's friend" . I don't know what to make of these claims but we'll wait and watch what unfolds.