10.86% cu , page-38

good to see some posters with a semblance of knowledge posting some info here.

Worrying that some are impressed by channel sampling returning 10% over 0.3metres. This statement would not mislead someone who knows a little about what they are reading. Really it's a nothing announcement.

As for the production, simple calc, lets assume an avg grade of 3%, which would be great.

T Months Grade
Revenue 5,000 12 0.03 7000 12,600,000
LESS ----------
Tolling 5,000 12 -110 -6,600,000
Mining 5,000 12 -75 -4,500,000
Truck 5,000 12 -7 -420,000
----------
1,080,000

They might make a $1M. The main variable is the mining cost, at $75/T. This would pay for guys on drills, explosives, access, power.. all the stuff you need to do a little UG mining op. That's a conservative estimate. To give it some flavour, 160/T per day, assume 3T/man/day, requires 50+ man team.

Some info on UG mining
http://edrsilver.com/_resources/UG-OTR061212-RWS.pdf

Would be a very good result if they can pay the $750k option payment due in August from this IMO.