Project Highlights
High-grade, low-cost gold, copper, silver and zinc mine
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Production projected to commence in late 2010 and return payable metals of :
1.06 Million Oz Gold | 9.4 Million Oz Silver | 734 Million Lb Copper | 1,075 Million Lb Zinc -
Low operating costs. The Bisha mine is expected to produce gold at an operating cost of less than $250/oz, with copper operating costs ranging from $0.54-$0.67/lb, and zinc operating costs at $0.50/lb (including all royalties and credits).
+10 years open pit mine modeled at 2 Mt per year of ore production
Fully financed through production
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Over 70% completed (August 2010)
Strong, ongoing support from the government of Eritrea, who independently purchased a 30% contributing interest in the Bisha Mine (to be paid for at start of production)
Positive Net Cash Flows in Q1 2011
Trading at a discount to Net Present Value/share
- Resource expansion remains open at depth and from nearby discoveries within the Company's licensed areas
