Highlights
- Near production
- Zaruma Gold Project plant construction and mine development estimated to be 85% complete. Remaining capital cost estimated at $5 million. Commissioning of Plant to be approximately 90 days after the enactment of the new Mining Act
- World-class exploration potential
- 6 million oz gold and 27 million oz silver
- Fully qualified and experienced plant design and construction engineers, metallurgists, geologists, and underground management team with proven track record across the globe
- Strong financial position - Approximately $20 million (Dec.2008)
Focused on delivering shareholder value
Draft Mining Law
The passing of the New Mining law is expected in January 2009 Important components of the draft Mining Law include:
Royalty levels will not be less than 5%
No limit to the number of concessions, however no single concession can be larger than 5,000 hectares
Up to 8 years to explore for minerals
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