It is very important development for new Silver Wheaton SLW in the making: Silverstone Resources SST.v effectively controls 207.6 Moz of Silver just in this one agreement. Update of Capstone Mining's Cozamin resources which is due in September 2007 will add more to this resource base. Silver cost is fixed at 3.9-4.0 USD per oz. Company is working on its own resource base in Mexico which has historical indication of more then 100 Moz. First silver revenue from Lundin deal will pour in on September 28th, 2007. Small junior will become second pure silver play with revenue stream from silver sales and with fixed cost base: it is option on rising silver price without time decay. Main shareholders are Capstone Mining CS.to, Lundin Mining LUN.to LMC and couple of investment funds: shares are very tightly held.
"VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Sep 17, 2007 -- Silverstone Resources Corp. ("Silverstone") (CDNX:SST.V - News) is pleased to announce that it has completed its updated technical reports on Lundin Mining's Neves-Corvo and Aljustrel mines located in Portugal. The National Instrument 43-101 compliant technical reports were prepared by Wardell Armstrong International, for Silverstone titled Technical Report on the Neves-Corvo Mine, Southern Portugal dated August 2007, and Technical Report on the Aljustrel Mine, Southern Portugal dated September 2007."
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Looking on the Silver Wheaton site - which resource is the one you're referring to? Thanks!
ReplyDeleteI am reffering to resources controled by SILVERSTONE RESOURCES according to Lundin deal.
ReplyDeleteNow all resources are:
SST.v own resource base in Mexico historical(!) over 100 Moz of Silver - under drilling programm.
First Silver deal with Capstone Mining for Cozamin mine. Now this property is in the process of expanding and new resource report.
Second Silver deal with Lundin Mining presented in this latest NR.