Re: Chasing butterflies
in response to
by
posted on
Feb 16, 2014 03:43PM
(Edit this Message from the "Fast Facts" Section)
Brad, did you really do your DD?
"It is unfortunate that we can't get paid from this position unless some of those world class deposits start coming up and out of the ground."
Are you aware of how many hundreds of thousands of tons of ore have already been removed from the ground and are laying around in huge piles? (See the photo gallery) Granted, it is the waste ore from the 1800s, not the ore that averaged over 2.5 oz/t, but even the waste ore averages around 4-5 g/t, which is more than many modern major gold projects. Once the mill is running properly (the flotation units have greatly improved recovery, and the pending addition of the leach system will increase efficiency even more), even the 4 g/t ore will make it profitable to run the mill, possibly profitable enough to finance drilling, exploration, and the startup of mining operations. This is not stuff that requires expensive mining operations, it simply has to be trucked down the mountain. Much of it has already been milled, and is sitting in the mill yard waiting for further processing. That's one of the reasons I said:
"The gold and silver are there, and it is simply a matter of bringing in competent people to find and extract it. If that is done, the odds of SFMI succeeding are a lot more than 3%- probably more like 99+%."
In the case of the waste ore piles, they don't even have to find it. It's sitting there in great big piles.