Mining in North America?
It's increadible! Email about mining comes in every day. Business must be booming in the mining sector. Diamond Drill Exploration results are common place email arriving to my inbox and I assume yours.
Are they real? Is this something that I should be investing in? Is mining really that hot a sector? How do people get diamond drilling results? Why are they emailing them to Amik Technology when my business focus is to fix computers, repair networks and servers and fix websites?
I have now started to collect some of this interesting but suspicious mining news. If nothing else it make great content to draw search traffic for the purposes of advertising one real client of mine who manufactures core boxes for storage of diamond drill core samples.
NEWS RELEASE
CROSS LAKE MINERALS LTD.
1255 West Pender Street, Vancouver, B.C. V6E 2V1
Tel.: (604) 687-2038 / Fax.: (604) 687-3141
March 20, 2006 12(g) No. 82-2636
Symbol CRN-T
POSITIVE QR MINE INDEPENDENT FEASIBILITY STUDY COMPLETED
Vancouver, British Columbia – Cross Lake Minerals Ltd. (the “Company” or “Cross Lake”) is pleased to announce that it has completed the Independent Feasibility Study for restarting the QR Mine. The completion of the QR Mine Technical Report by Wardrop Engineering Inc. and Cross Lake's Engineering Consultants is an important step for the Company as it moves toward the recommencement of operations at the QR Mine. Initial capital required for the project is $4.5 million comprising $3.5 million for infrastructure and development as well as $1.0 million for working capital. The following table summarizes the Projected Cash Flow of the QR Mine in the first two years of operations:
Cash Flow Summary ($Can)
In-Situ Gold (Oz): |
78,323 |
78,323 |
Recovery (%): |
93.00 |
93.00 |
Recoverable Gold (Oz): |
72,840 |
72,840 |
Au Price ($/oz): |
550.00 |
600.00 |
Net Revenue: |
39,661,504 |
43,267,095 |
|
|
|
Operating Costs |
$/t |
$ |
$ |
Mining |
36.94 |
17,223,565 |
|
Processing |
13.76 |
6,416,503 |
|
Plant (Power) |
3.77 |
1,758,010 |
|
Admin/Tech Services |
6.95 |
3,240,893 |
|
Subtotal Operating: |
61.42 |
28,638,971 |
28,638,971 |
|
|
|
|
Operating Profit: |
|
11,022,533 |
14,628,124 |
Cash Cost ($/oz Au): |
|
393.18 |
393.18 |
Total Cost ($/oz Au): |
|
462.44 |
462.44 |
Operating Margin ($/oz Au): |
|
156.82 |
206.82 |
IRR (%): |
|
109 |
204 |
When the Company's engineering team reviewed the options for development of the existing resource on the QR Property several choices were considered and subjected to analysis. As a result of this process, it was concluded that the most efficient and therefore economic development plan was to develop only the easily accessible underground resource within the Midwest Zone, develop the defined Northwest Zone by open pit and the West Zone by a combination of open pit and underground mining. This plan generates a highly profitable economic model with a minimum of capital and an excellent cash flow over the first two years of mine operations. In addition to the resource included in the development plan, there is the potential for additional tonnage at depth below the Midwest Zone, further potential within the West Zone and the large undeveloped resource indicated within the North Zone.
The Company is negotiating the necessary financing to provide the capital cost for the Project. The Company is also finalizing the negotiations related to the construction of a power line into the Property to provide hydro power instead of the diesel generated power used during the previous operation. This will result in a significant reduction in operating costs from the previous operation and as a result an improvement in the economics of the operation.
The proposed restart and development of the QR Mine is an excellent project with a high rate of return on capital and a low cost of production per ounce of gold recovered. The project is also attractive because production can be achieved within three months of starting field work at a very modest capital cost. As the proposed operations were previously permitted for production the time to reactivate the operating permits is significantly less than a “new” project and the Company expects them to be completed by early summer. This can be done as the Company is preparing to start field operations.
Cross Lake is committed to the development and ongoing operations of the QR Project. The Qualified Person who reviewed the studies and manages the exploration work is the Company's Qualified Person and Vice President, Exploration Jim Miller-Tait, P.Geo. The Company will also continue to explore to outline additional resources on the QR Property and to advance its other Projects through ongoing exploration and development.
For further information, please contact:
Cross Lake Minerals Ltd.
Gordon A. Keevil – President
(604) 687-2038 or visit our website at www.crosslakeminerals.com |
-or- |
Tangent Management Corp.
Investor Relations
Tel: (604) 642-0115 |
Wineco Productions Inc.
Mining Play
Symbol: WNCP
ACQUISITION COMPLETE AND IN NEGOTIATIONS FOR 4 MORE! READ BELOW!
HOT INDUSTRY? HOT COMPANY? HOT STOCK? IS THIS WEEK'S ACTION IN THIS STOCK AN EARLY
INDICATOR OF WHAT'S YET TO COME? GO LOOK AT IT RIGHT NOW! RADAR IT NOW! YOU MAY WANT
TO GET ON BOARD AT THE OPEN TOMORROW!!!!
Wineco Productions Announces the Acquisition of Mine Tailings
SUNRISE, Fla.--(BUSINESS WIRE)--March 17, 2006--Wineco Productions Inc. (OTC:WNCP - News)
announces it has completed negotiations and has acquired the mine tailing from World Wide
Consulting. The tailings consist of approximately 1 million tons and are very prolific in
platinates. World Wide Consulting is the first of 5 companies that Wineco is in negotiations
with. All companies have shown excellent results in their tailings.
Wineco has proven its test in chemical extraction of platinum in addition to its previously
proven micron gold extraction process. Processing of these tailings is scheduled to being in
April. A new Wineco Laboratory for testing will be completed in May. The company is requesting
miners to submit their tailings for testing to determine if their tailings are of interest for
the company to process for micron gold.
______________
WATCH IT AT THE OPEN THURSDAY! WILL THERE BE A "GOLD RUSH" ON THIS STOCK?!!!!
Information within this report contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the S E C Act of 1934. Statements that involve discussions with respect to projections of
future events are not statements of historical fact and may be forward looking statements.
Don't rely on them to make a decision. The Company is not a reporting company registered
under the Exchange Act of 1934. We have recived two million three hundred thousand free
trading sares from a third party not an officer, director or affiliate shareholder.
We intend to sell all our shares now, which could cause the stock to go down,
resulting in losses for you. Today's company has: an accumulated deficit and and a
reliance on loans from officers and affiliates to pay expenses. It is not an operating company. The company is going to need financing to continue as a going concern.
A failure to finance could cause the company to go out of business. This report shall not be
construed as any kind of investment advice or solicitation. You can lose all your money by
investing in this stock.
