As the long CT and EIS process dragged out, the price of gold dropped to $320 a troy ounce
by the proposed sale date of July 1991.
President / CEO Richard Dunning stated that, in essence, AVRG now has the potential to produce in excess of two million (2,000,000) troy ounces
of gold bullion over the next 10 years, and has a projected asset value of over two billion dollars US ($2,000,000,000US) at current gold prices
025 troy ounce
per ton contained gold ("OPT"), including a high grade interval of 220 feet of 0.
51 g/t gold, containing approximately 10,300 troy ounces
The Buen Futuro project has current estimated proven and probable reserves of 84,000 troy ounces
of gold and 82 million pounds of copper.
Once funding has been secured to finance Golden Eagle's mine plan, and the Gold Bar equipment is moved to the Buen Futuro project in eastern Bolivia, the company's most recent projections show that the operation will recover more than 5,900 troy ounces
of gold per month, and by the second year of operation, more than 4.
Total production of dore' during April was 1,407 troy ounces
, which resulted in 693 troy ounces
of gold and 661 troy ounces
In its initial phase, the company estimates that the new Buen Futuro mill and plant will recover over 3,000 troy ounces
of gold per month.
Existing data, drilling information and reports filed with the Ontario Ministry of Natural Resources have concluded that, based on the existing historical data, up to 2,100,000 troy ounces
of gold (including 25% silver content) are possibly contained in the Jerome Mine.
OTCBB:MYNG) announced today that its Cangalli gold mine continued to increase its gold production by recovering 18,724 grams, or 602 troy ounces
, of gold in May.
The company produced 30,493 grams, or 980 troy ounces
, of gold during the first quarter.
5 million ounces; past placer gold production exceeds 31 million ounces and current lode gold resource top 90 million troy ounces