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Date Posted: 21:41:41 08/13/05 Sat
Author: siempre33
Subject: Spanish Mountain Gold

SKYGOLD NEWS Posted By: nopoo
Posted Time: 6/10/05 19:41 EST
« Previous Message Next Message »

hi
this is good news, we have a monster deposit here, open pit, virtually no stripping ratio and here is something for us on $talk-

if a mine cost study was done our cost of mining and milling will be $6.55, that is a cut off of .4 g/t BUT since we have a deal with the Cross Lk Mine to use there mill and do not have that capital cost our cut off is .3 g/t or about $4 tonne breakeven. those are numbers you can take to the bank, historically porphory costs are $9.50 per tonne per life of mine, think about what is involved in those numbers and realize our estimated costs are very accurate. that 95m intercept is $30t rock, that one panel could easily contain 500,000 ozs......they haven't even started on this thing, its huge, maybe all the way down to the river in the north, wide open everywhere else including at depth. it is a World Class System!!!

the hi grade is in the next batch of holes which should start to come in monday, likely a release next week.

lots of interest, lots of calls for crosses, no way not gonna happen, their being told to buy in the market, out friend is not selling, as a matter of fact "buy under .30 and sit back for a huge run during the summer, let us make a mine. Newmont and Anglo are sniffing, but no way, theres 2 years of drilling before we get $5 a share or more." is his advice.

what can i say? buy and hold, theres 3 weeks worth of news coming from this one program and there are much better holes coming.

ttfn
nopoo

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