Our AIM was going to be the next new supplier of Zn in 2008 to he world stage and now looking like 2009. It certainly looks as though we are going to be second fidle to the Wolverine mine. I am a little disapointed that the timing is out, although I bought in based on the original BSF and the then costs for Zn. Therefore as a L/T holder I see no reason to sell as all the corrections etc will pass and the demand for Zn will be here for ever, or at least while we are using steel. So if we reflect back two years at where AIM WAS to where AIM IS today a L/T holder should be happy for what has been acheived thus far. Of course we have seen some pretty big moves all based around news and you can get emotionally attached to what could have been, but that too is short lived as you then get your cash and look for whats next. I'm sorry but IMO this AIM thing is moving forward and the trend line suggests that, even if it is only shallow. Anyway when I get a little capital payment tomorrow, i will again top up at the appropriate level. The AIM HC posting board has been so negative of late, but im sticking with the original BSF and getting a bargin in my eyes (IMO).
Any way here is where Wolverine is at:
ZINC DEVELOPMENT - Yukon Zinc secures $140M for Wolverine mine
Barclay Capital Corporation Yukon Zinc Corporation Articles Base and Light Metals Corporate Management and Regulations Development North America YUKON - BARCLAYS CAPITAL has promised a senior project debt facility of US$140 million that will allow Vancouver-based YUKON ZINC to proceed with its Wolverine zinc-silver mine and mill in the Finlayson District. The loan is subject to customary conditions precedent, including the raising of sufficient equity capital to complete the project development.
The Wolverine project will be an underground cut-and-fill mine with a mining rate of 1,440 t/d mill feed. After passing through a dense media separation (DMS) plant, the ore will be cycloned to produce 1,250 t/d of feed for the grinding and flotation circuit.
The Wolverine deposit has a diluted high-grade proven and probable reserve of 15 million tonnes grading 9.66% Zn, 0.91% Cu, 1.26% Pb, 281.8 g/t Ag and 1.26 g/t Au. Putting it into production beginning in 2009 will have a total capital cost of US$250 million. Go to www.YukonZinc.com for the latest news.
AIM Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
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