Red Mountain: HIGHLIGHTS
- 650,000 ounce high-grade deposit (> 0.25 opt), 400,000 in measured and indicated categories plus an additional 248,000 ounces in the inferred resource category (see news release of February 17, 2005)
- Approximately US $40 million spent by previous owners
- Acquisition cost less than $1 per ounce
- Large complement of mining equipment included in sale
- Holding costs C$125,000 per annum
- SRK engineering study estimates 8 year operation with life-of-mine cash operating costs of US$213 per ounce (see news release of September 23, 2003)
