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LAF 0.0¢

9 bucks to mine an oz of gold!!!

  1. marksman

    747 Posts.

    I was almost floored when I read the following announcement from LAF this morning about getting a partner. Check it out:

    The Rapu Rapu project will produce gold dore, copper gold concentrate
    and zinc concentrate. Initial annual metal production figures are
    forecast to be, approximately, 10,000 tonnes of copper, 50,000
    ounces of gold, 590,000 ounces of silver and 14,000 tonnes of zinc.
    "Additional gold production is also anticipated from the Hixbar
    prospect however this has not been factored into our predicted cash
    flows", said Mr. Andrew McIlwain, Managing Director of Lafayette.
    "Cash costs for gold and copper are forecast at US$53 per ounce and
    US$0.30 per pound respectively. With by-product credits, gold costs
    of US$9 per gold ounce are forecast."

    OK so that includes the copper but its still very low at even $US53 per oz. Had to buy some this morning - not too many - am hoping to load up big time on a pullback. Sure the mines OS but has that stopped OXR???
    Besides, they will mine it for 16 dollars and sell it for over 600 - nobody could screw that up. (Famous last words!)
    PS Also interesting silver play.

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