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Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.

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Message: Re: Great Steve Altmann Interview!
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Feb 08, 2010 03:06PM
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Feb 09, 2010 08:02PM

Silvercorp is planning to construct a 1500 tpd mine and mill in 2010-11 and estimates capitol cost of around $30 million http://www.silvercorpmetals.com/_resources/SVM_Fact_Sheet_Feb1_2010.pdf. This is quite a bit less than the $70 million estimate I remember. I would not be surprized if costs in China are lower than Mexico, but I do not think they would be 1/2 cost. The $70 million estimate could have included a deep shaft or large ramp which are expensive. In 6 years a 1500 tpd mill would process about 3 million tonnes, so at $30 million the cost would be about $10 per tonne and at $70 million the cost would be about $23.33 per tonne. Needless to say, a cost of $10 per tonne would be much preferred since ECU's ore will yield about $100 per tonne after recoveries are considered. The cost of the mill also depends on the ore metalergy and our ore contains alot of gold in contrast to the Silvercorp ore which contains only silver, zinc, and lead.

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Feb 09, 2010 10:53PM
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Feb 09, 2010 11:07PM
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Feb 10, 2010 12:47AM
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