Minefinders Corporation: Scheduled to Achieve Operating Profit

http://seekingalpha.com/article/8394...

Minefinders Corporation: Scheduled to Achieve Operating Profit

We recently visited Minefinders Corporation Ltd’s (MFN) Dolores project near Chihuahua, Mexico, scheduled to pour its first gold-silver doré bar in four to six weeks. Minefinders has cleared waste and stockpiled ore to accelerate production and is working toward operating profitability and mid-tier producer status in 3Q08. Minefinders purchased all new crushing and screening equipment, as well as rolling stock, to provide a longer working life and operational efficiency. Dolores has Proven and Probable reserves of 99.3 million tonnes, containing 2.44 million ounces of gold and 126.64 million ounces of silver.

Dolores Mine, Chihuahua, Mexico

Source: Analyst

Dolores is designed to process 18,000 tpd over a period of fifteen years. Minefinders is working on a Scoping Study for a 3,000 tpd mill and flotation plant to improve recoveries for higher grades beyond the third year of the mine plan. We also anticipate additional drilling for expansion of the pit and evaluation of an underground mine program. Dolores should provide funding for exploration to accelerate at its other silver and base metal projects in northern Mexico without exposure to funding issues.