Dolores Mine - Sierra Madre

A New Mid-Tier Gold & Silver Producer - Mexico

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Message: First Gold Pour

First Gold Pour

posted on Jul 02, 2008 08:03PM

Minefinders has been seeking Mexican Government approval to stop disruptive anti-mining protesters from stopping work on the Dolores mine. Management feels it is better to get Mexican legal authorities to issue the orders to stop the anti-mining now before the first gold is poured.

This has caused a delay in the leaching process and they hope to start leaching within the next couple of weeks...pending the court approvals. This means that the fire Dore bar will not be poured until sometime in August. It will take about 20 days after leaching starts before the first bar can be poured.

Minefinders still estimates to produce 40,000 ounces of gold for the remainder of 2008 . Positive cash flow is expected in the third quarter of 2008 . Cash costs are expected to be about $ 403 per ounce for the 2008 production.

When full commercial production starts the company expects to produce 128,000 of gold and 3,000,000 ounces of silver per year at an estimated cost of $ 297 per ounce of gold equivalent.

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Jul 03, 2008 04:26AM
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Jul 03, 2008 11:04AM
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