Just as the gold bull market is hitting its stride, a serially successful mining entrepreneur is bringing a massive, high-grade mine into production. Amazingly, it seems few investors are even aware of it. The opportunity: Bluestone Resources BSR.V; BBSRF.OTCQB is still selling for less than its first-year cash flow.
The mine has an average ore-grade of 8.6 grams per ton, making the project a “high-profit” one, according to Poyraz. The discovery also means Gubretas will need to employ an additional 1,000
The mine plan entails a very low strip ratio 0.76:1 , which means every there is very little waste ore to help keep costs low and gold production high. At full build-out AGB expects to produce
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The mine plan entails a very low strip ratio 0.76:1 , which means every there is very little waste ore to help keep costs low and gold production high. At full build-out AGB expects to produce about 200,000 ounces a year. At AISC of $528 an ounce at today’s gold price of $1,250/oz, Atlantic Gold’s profit margin is a remarkable $717/oz.
New Gold undertook mine optimization studies on its two main operating assets at Rainy River and New Afton in B.C. The process revolved around eliminating those gold zones that don’t meet the company’s profitability threshold. The mine plan built on a gold price of US$1,275 per ounce. Want to read more stories about business in the North?
Project Details “The Providence Group of Mines at which time the former manager was reported to be milling profitable high grade ore from the tenth and eleventh levels. At the same time development work had been completed on the twelfth level into good bodies of mineralization. presentations and other information concerning Providence
Yes, gold mining will always be profitable once the anticipated reserve is over a certain amount i.e 10KG plus . Even small mines can yield some good profits as operational costs can be kept to a minimum. Artisnal mining still makes up the majority of gold mining, this is a simple/primitive way of extracting gold.