Was ist hier eigentlich los? - 500 Beiträge pro Seite

[thymothym]

Gold Projects
Ashdown
» Historical underground production of 16,000 oz at an average grade of about 0.36 opt.
» Extensive drilling, metallurgical work and three feasibility studies in late 1980s and early 1990s resulted in reported proven reserves of about one million tons with an average recoverable grade of 0.075 opt. (see footnote 1)
» Initial drilling by American Copper & Nickel Company (ACNC, US subsidiary of INCO) in mid 1980s.
» Followup drilling and feasibility studies by WEX, Billiton (Royal Dutch Shell) and North Lily Mining in late 1980s to early 1990s.
» Free gold occurs in thick quartz veins with gold shows in all directions from defined resource.
» Development was postponed in 1994 due to declining gold prices (they eventually dropped to $250/oz).
» As a result of current high gold prices and probably of continued high prices, WEX plans to upgrade the feasibility studies in 2006 and, if feasible, to permit and develop the deposit in 2007-08.
» Golden Phoenix can choose to earn a 60% interest by paying 60% of development costs.
Cowden
» WEX has an option to earn 100% interest.
“ Lokalisierte nur 10 Meilen von Ashdown, also, wenn Ashdown Gold entwickelt wird, könnte Cowden Erz zum gleichen Lauge-Service versendet werden.
“ Historische unterirdische Produktion von ungefähr 30.000 Unze an einem durchschnittlichen Grad von Optativ ungefähr 1.0.
“ Unterirdisches Musterstück bestätigt hohe Grade, aber die Bohrung unterhalb der vorhandenen Funktionen in Winter 2006 war ergebnislos
“ Zusätzliche Erforschung wird geplant.

1These, die historische Entdeckungen nicht durch überprüft worden sind, Gewinnen-Eldrich und dementsprechend werden nicht mit ihm als nationale Instrument 43-101 definde Reserven oder Betriebsmittel behandelt, die von einer qualifizierten Person überprüft werden und wie so, nicht auf gebaut werden sollten.

[thymothym]

Antwort auf Beitrag Nr.: 26.758.813 von thymothym am 07.01.07 21:52:44

Goldprojekte Ashdown “ Historische unterirdische Produktion von 16.000 Unze an einem durchschnittlichen Grad von ungefähr 0.36 Optativ. “ Die umfangreiche Bohrung, die metallurgische Arbeit und drei Durchführbarkeitsanalysen in den späten achtziger Jahren und in den frühen neunziger Jahren ergaben berichtete nachgewiesene Reserven von ungefähr eine Million Tonnen mit einem durchschnittlichen wiedergutzumachenden Grad von 0.075 Optativ. (Fußnote 1 sehen) “ Die Bohrung durch amerikanisches Kupfer u. Nickel Company (ACNC, US Tochtergesellschaft von INCO) in Mitte der 80iger Jahre abzeichnen. “ Bohrendes und Durchführbarkeitsanalysen Followup durch WEX, Billiton (königliches holländisches Shell) und die Nordlilie, die in den späten achtziger Jahren zu den frühen neunziger Jahren gewinnt. “ Freies Gold tritt in den starken Quarzadern mit Goldzeigen in allen Richtungen von definiertem Hilfsmittel auf. “ Entwicklung wurde in 1994 wegen der abfallenden Goldstandarde hinausgeschoben (sie fielen schließlich auf $250/oz ab). “ Resultierend aus gegenwärtigen hohen Goldstandarden und vermutlich der anhaltenden hohen Preise, WEX Pläne, zum der Durchführbarkeitsanalysen 2006 zu verbessern und, wenn durchführbar, der Ablagerung 2007-08 zu ermöglichen und zu entwickeln. “ Goldenes Phoenix kann beschließen, ein 60% Interesse zu erwerben, indem es 60% von Entwicklung Kosten zahlt. Cowden “ WEX hat eine Wahl, zum des 100%-Interesses zu erwerben. „Lokalisierte nur 10 Meilen von Ashdown auch wenn Ashdown Goldentwickelt wird, könnte Cowden Erz zum gleichen Lauge-Service versendet werden. „Historische unterirdische Produktion von Ungefähr 30.000 Unze ein einem durchschnittlichen Grad von Optativ ungefähr 1.0. „Unterirdisches Musterstück bestätigt hohe Grad, aber Würfel Bohrung unterhalb der vorhandenen Funktionen in den ergebnislos Krieg des Winters 2006 „Zusätzliche Erforschung wird geplant. 1These, Würfel historische Entdeckungen nicht durch überprüft worden sind, Gewinnen-Eldrich und dementsprechend werden nicht MIT ihm als nationale Instrument 43-101 definde Reserven oder Betriebsmittel behandelt, Würfel von Einer qualifizierten Person, die überprüft und wie so werden, nicht auf gebaut werden sollten.

[eiz-T]

The above photo shows the production from a one-week run of the mill. Each Supersack contains approximately 3900 pounds of molybdenite, which averages about 54% elemental Mo. The mill currently can process all the ore the mine is producing, and further development work is being performed to bring mineral production up to match the mill's 100-ton per day capacity. This ramping process will take several months, and involves increasing the working faces and numbers of miners.

# » In 2004, Win-Eldrich entered into a letter of intent to form a joint venture with Golden Phoenix Minerals.
# » Golden-Phoenix could earn a 60% interest in the property by placing the mine into production or spending five million dollars, which it is attempting to do by February 4, 2008.

Goden Phoenix
OTCBB GPXM.OB
Share Capital
Authorized 200,000,000
Issued 147,925,957
Warrants 2,434,265
Options 6,115,715

Golden Phoenix has begun mining and advises that the mill should begin operating during the 3rd quarter of 2006.

Win Eldrich
tsx: WEX
Common Shares 11,516,769
Fully Diluted 12,288,262
Public Float about 6.5 million
52-week range C$ 0.65-3.02

*** data as of June 30, 2006


...ob nun ein 60 oder 40 Interesse, ich hab beide gekauft, und aus der einen wird die andere, wenn ich mir Klarheit über die Vorteile des jv´s bei ashdown moly in Relation zu denjweiligen Einzelprojekten verschafft habe.

Den beiden stillen mitleser heute und anderen lohne sich ein Vergleich beider Projektbeschreibungen auf den jeweiligen HP`S anzustellen. Ashdown moly produziert, das steht fest.

Ich habe gekauft, weil Ashdown Moly mit den höchstgradigen mir bekannten Werten von bis zu 15% Moly eine Investitionen nach meinen bescheidenen Kenntnissen über beide Projekte/Unternehmen/Moly allgemein lohnenswert erscheint.

Grades as high as 15% Mo were encountered in drilling and underground sampling, among the highest moly grades ever reported.

Quelle http://www.win-eldrich.com/ashdownmoly.php

Good luck

[eiz-T]

WEX 2.420 +0.330 +15.79 101,780

04-05-2007

[eiz-T]

http://www.resourceinvestor.com/pebble.asp?relid=31566

Overlooked Moly Producer Primed for Major Upside

By David J. DesLauriers
07 May 2007 at 06:18 PM GMT-04:00

[RiscTec]

Aus Stockhouse:

SUBJECT: RE: ..Will earn .25 more per share than "BLE". Posted By: TheRock17
Post Time: 5/11/2007 09:41

BLE, based on todays Q1 financials, should earn about $1 per share in 2007.
That is about the same as RI estimates for WEX.
BLE has significant debt, yet trades at over 18 times 2007 expected net earnings.

That is why WEX is such a compelling buy at these prices...

[Cuba_Libre]

oh...hier tanzt ja der bär!



Overlooked Moly Producer Primed for Major Upside

By David J. DesLauriers
07 May 2007 at 06:18 PM GMT-04:00

TORONTO (ResourceInvestor.com) -- Given Sprott’s recent push on the molybdenum market, almost every listed equity has doubled, tripled or better.

One company has been overlooked, however, and it is a producer - one of the handful (perhaps less than 5) of listed moly producers, as opposed to development companies that won’t be in production for years.

Win-Eldrich Mines [TSX-V:WEX] which has only about 14 million shares fully diluted and closed at C$2.75 today is producing molybdenum from its 40% Ashdown property in Nevada and should be fully ramped up by the end of this month. As a result, WEX is getting discovered.

Catalysts and Resource

In the next month or so WEX will release a 43-101 which should show 4 million pounds of extremely high-grade moly, averaging a head grade of probably 2% or 40 lbs of moly per tonne (rock value of $1,200/t at $30/lb moly). Because this is an underground mine there are probably more like 10 or 20 million pounds of moly there but those pounds can only be calculated as ongoing development work continues.

We are not geologists so we will only touch on this, but those working on the project believe that the rich underground system they are mining could be an offshoot to a much bigger system at Ashdown. That is important blue sky and cash flow from production now will be used to test various geologically theories at depth, etc. If some of those work, WEX will trade at a much higher valuation than a standard cash flow multiple. Time will tell.

Cash Flow

The company and its J/V partner, Golden Phoenix [OTCBB:GPXM], should be producing at a rate of 100 tonnes per day later this month. Grades vary but should average 2% moly after recoveries.

As the mine is optimized over the next couple of months, it is believed that per pound costs should come down to $5.

We estimate that at $30/lb moly, WEX can generate about $14 million in annualized cash flow or $1 per share, net to its interest. Save BLE and ROK which have both already run, who else can say that?

Moly Leverage

The moly play is heating up thanks to Sprott and their ETF. Talk of a futures market as well could take moly much higher, at least for a while.

If moly went to $45 per pound WEX would cash flow something like $1.50 per share, but could also double production or expand to 250 tpd, building another small mill and mining with a lower cut-off grade.

As we’ve said above, there are so few listed moly producers this gives WEX great optionality.

Conclusion

Win-Eldrich is in the enviable position of actually being a moly producer, something only a handful of other listed companies can boast. While the stock has run up a little bit recently, it has not experienced anything near the triples and quadruples we have seen across the sector in the last month or so.

We believe that the stock could trade at anywhere between $6 and $10 almost immediately given the following:

Scarcity value due to lack of producing moly options for investors.
The optionality of a producer in a hot moly market if the ETF pushes prices much higher in that opaque, illiquid market.
A cash flow multiple of 6X-10X.
The possibility of much larger moly resources at Ashdown
A very tight share structure.
The relative performance of other moly plays recently which WEX has yet to experience.
In the final analysis, those looking for moly plays should be searching out the handful of listed producers who will take advantage of today’s high prices, and tomorrow’s potentially higher prices.

WEX looks to be one of the very few cheap ways to achieve that and will use its cash flow from the safety of Nevada to potentially uncover a much larger resource within its grounds.
http://www.stockhouse.com/bullboards/viewmessage.asp?no=1512…

[aussie3430]

Antwort auf Beitrag Nr.: 29.150.297 von eiz-T am 05.05.07 16:31:57

Hallo!
Warum ist hier so wenig los?
Win-Eldrich-Mines ist doch Produzent!
Die Big-Bags neben der Mühle sind doch kein Fake!
Da steht echtes Moly in Bigbags zum Verkaufen.....

Vielleicht kommen mal einige WEX-Fans hier ins Forum....

lg aussie3430

[Madder2]

Guten Morgen @ all , hoffe es kommt mal bissl Leben in das Forum,

das größte Promblem ist das WEX in D kaum einer kennt. Denn es wird schon produziert u.ausgeliefert. Die Minen sind hochrentabel, bis zu 15% Moly in Ashdown Moly . Meines Wissens gibt es keine bekannte Mine oder Drilling mit vergleichbaren Werten.
Im Aktien-Review wurde WEX kurz erwähnt. Vielleicht bringts ja was.
Ich hab mein "Paket" und wenns auch dauert, die Zeit hab ich, denn bei den Fakten gehts früher o. später aufwärts!!

VG Madder2

[aussie3430]

Antwort auf Beitrag Nr.: 31.312.727 von Madder2 am 28.08.07 10:48:46

Hallo!

Ja - vielleicht sollten wir mal in den anderen Moly-Foren WEX als "vergessenen" Molywert erwähnen????
Da lesen bis zu 100 Leute sich täglich durch....
Die Fakten sprechen für steigende Kurse....

aussie3430

[MONSIEURCB]

Press Release Source: Win-Eldrich Mines Limited

Update on Ashdown mine development and molybdenum production
Thursday September 6, 1:55 pm ET

TORONTO, Sept. 6 /CNW/ - Win-Eldrich Mines Limited (WEX, TSX Venture Exchange), minority owner of Ashdown Project LLC, which owns a Nevada-based molybdenum mine, announces that based on information provided and publicly disclosed by Golden Phoenix Minerals, Inc., the mine's manager and majority owner, during the second quarter of 2007, the Ashdown Project LLC posted sales of molybdenum concentrates totaling US$4,466,395, which represents an increase of over US$3.6 million, or approximately 460%, from sales completed in the first quarter of 2007. Operating costs and expenses for the second quarter were US$2,276,789, compared to US$1,680,068 for the first quarter. The higher costs reflects an increase in staffing at the Project from approximately twelve to twenty-four miners and from nine to eighteen milling and support personnel, as well as other costs related to the ramp-up in production.


A total of 144,882 pounds of molybdenum (Mo) were sold in the second quarter at a cost of US$15.71 per pound as compared to 64,942 pounds at US$25.87 per pound during the first quarter. Golden Phoenix advises that these per-pound calculations represent fully loaded, total costs that include ore production, barren-rock development, general and administrative expenses, accretion, depreciation and amortization expenses.

While expenditures over the past six months exceeded initial budgeted amounts, Golden Phoenix advises that as the Project evolves from a focus on infrastructure development to concurrent mining of multiple stopes, an increase in the production and sale of concentrates, together with a decrease in the Project's total cost per pound is expected. Until then, ongoing development work and equipment upgrades and repairs during the current third quarter are expected to reduce financial performance and the rate of expanded production in the third quarter, but should position the Project for sustainable full-production rates later in the year.

The Project's fleet of rolling stock has recently been expanded with the acquisition of a second 10-ton haul truck and a third 2-yard mucker. These additions should allow for the rotation of equipment through a preventative maintenance program, which is designed to increase equipment life, availability and output.

The Project's grinding circuit's ball mill was taken off-line in early August to replace worn portions of the protective rubber plates that line the inside of the drum. Preventative maintenance items were moved forward and have been performed in preparation for anticipated sustained 24/7 operation once the custom fabricated replacement liner has been installed, which Golden Phoenix advises is scheduled to occur in the first part of September. This unplanned down-time has slowed the increase in the rate of production for the time period effected but has provided an opportunity to implement improvements to the flotation circuit, including design and construction of a system to re-process tailings in order to recover residual molybdenum from the impoundment pond.

Golden Phoenix advises that underground, both ore extraction and development work at Ashdown have continued throughout this period. Over 3600 tons of ore have been stockpiled in advance of the re-start of the ball mill anticipated in September. With the accumulation of a month's worth of mill feed, underground crews are now focusing on upgrading the underground electrical systems, rehabilitating timber support where needed, fireproofing the portal entrance area, and advancing the construction of a secondary escape way. Excavation and stockpiling of ore continue in anticipation of sustained mill operation through the remainder of the year, once the ball mill is returned to service.

[aussie3430]

Als WEX geht stetig seinen weg - es sind zwar keine Quantensprünge - aber ein stetiges Wachstum. Wenn die Anlagen wieder alle voll funktionieren und Moly nicht schwächelt - sind diese Schnäppchenkurse bald Vergangenheit.
Und an Projekten mangelt es bei WEX auch nicht.
Alle interessierten können auf der toll aufgebauten Homepage nachlesen! Stay long!
lg
aussie3430

[MONSIEURCB]

Dieser thread ist ja gar nicht mit dem wert verlinkt?

[MONSIEURCB]

Press Release Source: Win-Eldrich Mines Limited

Update on Ashdown operations
Tuesday November 20, 2:36 pm ET

TORONTO, Nov. 20 /CNW/ - Win-Eldrich Mines Limited (WEX, TSX Venture Exchange), minority owner of Ashdown Project LLC, which owns a Nevada-based molybdenum mine, announces significant progress continues at Ashdown. Golden Phoenix Minerals Inc., the mine's manager and majority owner, has advised that following the return to service of the Ashdown mill in September, by October, Ashdown was generating consistent production of quality concentrates, with recoveries increasing since restart to better than 90 percent. Four shipments of molybdenum have been sold during this period bringing the cumulative total since start-up in December 2006 to 14 shipments containing over 615,000 pounds of concentrate. The mill is presently completing Shipment No.15. The market price of molybdenum oxide, which determines the adjusted price received for Ashdown concentrates, has averaged $31.99 per pound since September.

In this same period, the mine continued ore extraction within No.2 Raise in the Sylvia Stope and along the Sylvia drift. In accordance with MSHA directives, reinforcement of the main drift was completed involving cribbing, bolting, shotcreting and fireproofing. The development of the secondary escapeway also continued, with approval from the Bureau of Land Management to establish an access road and portal pad for the secondary escapeway decline. The mine also took delivery of a two-yard mucker and 10-ton haul truck to accelerate production.

Golden Phoenix advises that Kent Aveson assumed the role of General Manager on October 15 and immediately initiated a review of all systems and procedures aimed at streamlining operations and enhancing safety, performance and efficiency. Staffing levels at Ashdown have reached 65, with GM Aveson implementing the following organizational changes:

Ron Johnson has joined the Ashdown team as Mill Superintendent. Mr. Johnson holds a degree in Metallurgical Engineering and was previously with Barrick's Turquoise Ridge mine in Golconda, Nevada. With 30 years experience in production, research and development, including 16 years in molybdenum and copper flotation, Mr. Johnson will focus on enhancing production and processing.

With the arrival of a Mill Superintendent, David Tretbar will transfer from Manager Metallurgical Services, responsible for improved product quality and higher recoveries in the mill, to Engineering Manager. In his new role, Mr. Tretbar will direct a wide range of technical support functions including ore control, mine planning and scheduling, reserve development and future expansion.

Darrin Quimby has been promoted from Safety Coordinator to Mine Superintendent. Since joining the Ashdown team, Mr. Quimby has demonstrated his knowledge of mining and his skills at organizing and leading mine crews.

Terry Perkins, the Qualified Person responsible for the metallurgical portion of the reserve study currently in process, was on site to review operations in advance of finalizing his section of the report. The reserve study, which will be both NI 43-101 and Guide 7 compliant, is designed to provide technical information that defines the Ashdown ore body in a standardized manner accepted in both the US and Canada.

[hadesitem]

Antwort auf Beitrag Nr.: 32.500.999 von MONSIEURCB am 20.11.07 20:50:37

leute was ist los ?? ist hier überhaupt noch jemand

[MONSIEURCB]

was soll los sein?
Schön, dass ich wenigstens nicht allein auf (verlorenem?) Posten bin...

[MONSIEURCB]

Mir ist nach wie vor schleierhaft, warum dieser Wert so vor sich hindümpelt...hab am Tiefpunkt nochmal verbilligt. Der Newsflow ist ja recht übersichtlich...

[MONSIEURCB]

DAS dürfte für Aufwind sorgen...

Press Release Source: Win-Eldrich Mines Limited

Completion of NI 43-101 Technical Report and Feasibility Study Ashdown Project LLC, Humboldt County NV
Thursday March 27, 7:00 am ET

TORONTO, March 27 /CNW/ - Win-Eldrich Mines Limited (WEX, TSX Venture Exchange) is pleased to announce the completion of a Canadian Securities Administrators National Instrument 43-101 compliant Technical Report and Feasibility Study (the "Technical Report") on the Ashdown molybdenum mine, located near Denio, Nevada. The Ashdown Mine is owned by Ashdown Project LLC, of which Golden Phoenix Minerals, Inc. is the majority owner (60%) and Win-Eldrich, through its wholly-owned subsidiary, Win-Eldrich Gold, Inc., is the minority owner (40%).

The Ashdown Mine is a historic gold producer (1880s to 1942) and recent molybdenum sulfide concentrate producer (2005-2007). The purpose of the Technical Report was to determine mineable reserves for mine planning purposes. The projected reserve is based on historic (1979-2004) drilling and drifting and recent production. The Technical Report was authored by Jonathan Sprecher (geology and economics), Terry Perkins (metallurgical engineering) and Neil Prenn and Jaak Daemen (mining engineering), each of whom meets the requirements of independent Qualified Person under NI 43-101. Jonathan Sprecher has reviewed and approves this press release.

Mineral reserve and resource estimates were compiled as of January 1, 2008. The following projections of tonnage, contained pounds and average grade from the NI 43-101 Report is based on a cut-off grade of 0.65% Mo. This cut-off grade is based on a projected Mo price of US$30 per pound in 2008 declining to US$22.5 per pound in 2011. These projections are in addition to production from 1983-2005 (approximately 37,000 lbs Mo) and 2006-2007 (approximately 403,000 lbs Mo). 2007 production confirmed the validity of projection reserves from historic drilling.

Mineral Reserves:

-------------------------------------------------------------------------
Classification Tons (Diluted) Pounds Mo Grade (%Mo)
-------------------------------------------------------------------------
Proven 47,602 2,773,908 2.91
Probable 68,916 1,074,023 0.78
-------------------------------------------------------------------------
Totals 116,517 3,847,930 1.65
-------------------------------------------------------------------------

Mineral Resources:

-------------------------------------------------------------------------
Classification Tons Pounds Mo Grade (%Mo)
-------------------------------------------------------------------------
Measured 36,653 2,773,908 3.78
Indicated 145,063 2,710,618 0.93
-------------------------------------------------------------------------
Totals 181,716 5,484,525 1.51
-------------------------------------------------------------------------


The Mineral Resources include Mineral Reserves. The difference between the Mineral Resource and the Mineral Reserve totals is the exclusion of the North Area from the Mineral Reserve estimate due to insufficient drill hole density.

Summary of Planned Mine Activities based on the reserve estimate:

<<
Mine Life: 3.3 years beginning January 1, 2008
Milling Rate: 100 Tons per Day
Tonnage Mined: 116,500 Tons (diluted)
Processing recovery: 90%
Molybdenum Recovered: 3,848,000 Pounds
Average Operating Costs: $300 per Ton
>>

An economic model was prepared for the Ashdown Mine based on the following assumptions for the base case: a declining molybdenum metal price from US$30.00 per pound in 2008 to US$22.50 per pound in 2011 (2007 average was US$31.30), a capital investment of US$5.35 million during this period, and mining of 116,500 tons of ore from the South Area of Ashdown, above the 4375 Level and north of 8,550N. Actual cost of operations in 2007 were used in the economic analysis. The life-of-mine average cost of producing a pound of Mo is US$10.10. This cost should decline as efficiency improves and if additional reserves are found. The model was prepared on a pre-tax basis, as the tax burdens are different for the US and Canadian partners of the Ashdown Mine. In the base case the Ashdown Mine has a Net Present Value (NPV) of US$35,322,829 at an 8% discount rate.

Sensitivities to molybdenum price, capital and operating cost, grade and amount of reserves on the NPV were considered. The most significant variables influencing the model were the price of Mo and Mo grade and, to a lesser extent, operating costs. The results are summarized in the following table:

-------------------------------------------------------------------------
Case Description NPV at 8%(US$) % Change
-------------------------------------------------------------------------
Base Case $ 35,322,229
-------------------------------------------------------------------------
Sensitivities
-------------------------------------------------------------------------
Mo Price Increase by 10 % $ 42,247,708 +20
-------------------------------------------------------------------------
Mo Price Decrease by 10 % $ 28,397,950 -20
-------------------------------------------------------------------------
Operating Costs Increase by 10 % $ 32,359,617 -8
-------------------------------------------------------------------------
Operating Costs Decrease by 10 % $ 38,286,041 +8
-------------------------------------------------------------------------
Capital Costs Increase by 10 % $ 34,849,388 -1
-------------------------------------------------------------------------
Capital Costs Decrease by 10 % $ 35,796,270 +1
-------------------------------------------------------------------------
Grade Increase by 10 % $ 42,247,708 +20
-------------------------------------------------------------------------
Grade Decrease by 10 % $ 28,558,447 -19
-------------------------------------------------------------------------
Reserves Increase by 10 % $ 37,671,394 +7
-------------------------------------------------------------------------
Reserves Decrease by 10 % $ 33,435,699 -5
-------------------------------------------------------------------------


Ashdown Project Background:

The Ashdown Property is located about 110 miles northwest of Winnemucca and 10 miles southwest of Denio Junction in Humboldt County, Nevada. The Ashdown Property contains 293 unpatented lode claims covering about 9 square miles in the northern Pine Forest Range.

Following its discovery in the late 1800s, the Ashdown Property was mined for gold from high-grade veins, producing a reported 52,000 tons of ore averaging 0.31 ounces of gold per ton until it was closed in 1942. Mineralization on the Ashdown property is found in two large quartz veins hosted in Jurassic metasediments and a Cretaceous quartz diorite: the north-south trending, west dipping Sylvia Vein and the northwest-southeast trending, west dipping Main Vein. Vein true thickness averages about 7 feet.

From 1979 to 1994 approximately US$8 million in exploration and drilling was conducted on the Ashdown Property. During this period 293 reverse circulation and diamond core drill holes totaling 73,300 feet were drilled. In 1982 and 1983 a joint venture between American Copper and Nickel (ACNC), a subsidiary of INCO, and Outokumpu Mines, Inc. (OMI), a subsidiary of the Finnish mining company Outokumpu Oy, drove 1,800 feet of decline, cross cut and drift to obtain bulk samples of the molybdenite mineralization from the Sylvia Vein and drilled 31 underground diamond core drill holes totaling 5,909 feet to evaluate ground conditions and delineate the Sylvia Vein. Drilling has detected molybdenite mineralization from 105 feet to 630 feet below the surface over an area 840 feet wide by 1,800 feet long. Following a drop in molybdenum prices from $18 per pound to $3 per pound in 1983, the focus for ACNC and OMI and subsequent exploration companies changed to evaluating the gold mineralization.

With the sustained rise in molybdenum and gold prices in 2003, Golden Phoenix and Win-Eldrich agreed in February 2004 to work towards forming a joint venture to develop the mineral resources located at the Ashdown Mine. In 2004 Golden Phoenix drilled nine drill holes to confirm the molybdenum mineralization and in 2005 started reopening the Sylvia decline and commenced construction of the Morris flotation mill. In 2005, Win-Eldrich milled approximately 2000 tons of ore that had been mined and stockpiled in 1983, producing about 37,000 lbs of Mo for an average price of about US$25 per pound. Ashdown Project LLC was formed by the two companies on September 28, 2006 to formalize their business relationship. The Sylvia Sill Drift was reached in September 2006 and mining and milling operations commenced in November. The Ashdown Mine began producing a salable molybdenum concentrate in December 2006 and has been mining molybdenum from the Ashdown Mine and concentrating the ore in the Morris Mill more or less continuously since then. In 2007, 18,151 tons of ore were milled and 395,634 pounds of molybdenum were produced and sold for an average price of approximately US$31 per pound.

Exploration Potential:

The potential to discover significant new resources outside of the current reserve area is excellent. The nature of this potential can be divided into three broad categories. The first is the possibility of converting vacant blocks within in the current ore reserve model to reserves. These blocks were excluded from the reserves due to the low density of drilling and/or to large gaps in drilling between mineralized blocks. The second area is the down dip and strike extensions of the Sylvia and Main veins (below 450 feet and both north and south of the 1,800 feet of strike length of the current reserve model). The third area is regional: anomalous molybdenite geochemistry has been demonstrated in wide-spaced drilling, rock-chip samples and in soil samples over a three mile length along the projected strike of the currently defined reserve. In addition, a few drill holes intercepted vein mineralization similar to that in the Sylvia Vein, but the extent of these veins or their relationship to the Sylvia or Main veins cannot be determined due to the limited exploration drilling on the property.

The project area as a whole is at a very early stage of its development from an exploration standpoint, with most of the work on the molybdenum mineralization being geographically limited to a very small footprint (7 acres) within a large claim area (6000 acres). The Technical Report recommends an exploration program that is intended to determine whether current drill indicated mineral resources may be upgraded to the proven reserve category, and to identify the extent of mineralization beyond the margins of the known resource, both down dip and along strike, as described above.

A copy of the Technical Report will be made available by Win-Eldrich on SEDAR at www.sedar.com.

[hadesitem]

Antwort auf Beitrag Nr.: 33.739.980 von MONSIEURCB am 27.03.08 14:28:48

aber mein englisch ist zu schlecht....