The Huevos Verdes deposit looks reasonably close to Cerro Negro on the maps. This is a jv between Minera Andes (website minandes.com), a Canadian listed junior, and Mauricio Hochschild Cia S.A.C.., a large private Peruvian mining house. So far the jv has an indicated resource of 1.85m tonnes at 214.5gt silver and 2.1gt gold. The inferred resource is 2.7m tonnes at 253.5gt silver and 2.5gt gold. Mineralisation is open along strike and at depth. Here's the crunch. Last September they commenced a 17 month programme costing US$12.2 million to cover additional exploration ($2m), site preparation and reserve development ($4.2m) and metallurgical testing and 50 tonne per day PILOT PLANT! Thus there is no plant immediately available to Cerro Negro, it will be very expensive to develop, and KCG should farm it out to Hochschild ASAP!!!!
