i think that riverview, is one of the true believers - so i hope that he reads
from time to time, i have commented about this stock, and even though i hold, i refer to as a dog - because it simply keeps on going down. however, i did a bit of an internet search and found a company, who is trialing a emew plant. the company is an american company, and has just raised US$10m.
an internet search, will reveal several links - but here is one of them
http://biz.yahoo.com/pz/040305/53757.html
GoldSpring's Direct Electrowinning (EMEW) gold and silver metals recovery plant announced on February 23rd it has arrived at the Plum Mining Cyanide heap leach facility and is in the final stage of set-up. This addition enables recovery capacity to exceed 100 oz gold and 200 oz silver per day. The Company expects this plant to be fully operational by March 15th. The simplicity of this system and its ability to recover gold at a cost of about $0.10 per ounce at this level of capacity is very good news for GoldSpring. The plant is modular and expandable and additional capacity to move to over 250 oz gold and 500 oz silver is being planned for early Q2 '04.......
....The security of the recovered metals is preserved at a much higher level than allowed by the original Merrill Crowe System already owned by the Company. The Company plans to sell its Merrill Crowe system and purchase additional EMEW cells to expand recovery capacity even further in 2004.
Technical representatives of Electrowinning International of Vancouver have been at Plum for the past week and a factory representative from Australia will arrive next week to oversee and finalize operations.
This same system will work on copper as well and is planned as the recovery system of choice for the Company's Big Mike Copper recovery project in Winnemucca, Nevada. Big Mike has 25 million pounds of already mined copper above ground and suitable for lacid leach recovery. The Company is pursuing an initial bulk testing program which leads the way for Q3 '04 planned production.
it might be worth following the reports from the american company, whose website is at
http://www.goldspring.us/ and see how there gold / silver production progresses
from the above, i read that the cost of extracting gold, is US10c per oz. of course the gold needs to be mined, etc etc first - but never the less, the extraction cost is a joke. it seems that the company expects/ hopes to produce 250 oz of gold per day, using this method, as well as 500 oz per day of silver. that works out to be 90,000 oz of gold per annum. i am led to believe that the cost of the plant is about 1/4 m $.
to me, emm, has been a real dog - always promising, but failing to deliver. if the product is good, then it will prove to be a bargain at present prices. for me though, i will be happy to break even - having purchased at far higher prices
if the plant being used, by the company GOLDSTREAM, proves to be successful, then that will prove to be a benchmark, for this type of operation - ie heap leach gold, with a lot of silver - and could become the treatment proceedure , of choice
EMM Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
