Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
VANCOUVER, British Columbia — (BUSINESS WIRE)– Subject: SLOCAN BC SILVER OPERATION Location: Sandon, Silverton and New Denver B.C.
Location: Sandon, Silverton and New Denver B.C.
| Production to date | ||||||||||||
| NAME | Silver Production (g) | Lead Production (kg) | ZN (kg) | |||||||||
| Silvana | 242,982,741 | 28,691304 | 26299854 | |||||||||
| Van Roi | 86,690,377 | 8,091,338 | 7,600,657 | |||||||||
| Violamac | 129,127,274 | 21,746,099 | 14,225,991 | |||||||||
| Hewitt | 59,624,427 | 2,708,636 | 1,770,177 | |||||||||
| Payne | 116,386,525 | 17,376,637 | 1,024,416 | |||||||||
| Ruth Hope | 76,946,676 | 10,122,529 | 1,605,717 | |||||||||
| Ivanhoe | 14,204,149 | 2,366,970 | 330,300 | |||||||||
| Richmond Eureka | 24,993,034 | 2,322,882 | 761,064 | |||||||||
| Wonderful | 13,057,008 | 1,619,509 | 1,214,509 | |||||||||
| Idaho | 48,811,960 | 2,124,884 | 225,235 | |||||||||
| Wake Field | 6,032,458 | 1,111,226 | 5,568 | |||||||||
| Jackson | 3,106,070 | 1,888,550 | 1,407,175 | |||||||||
| Hinkley | 778,446 | 147,552 | 203,603 | |||||||||
| Canadian | 2,439,968 | 374,301 | 17,217 | |||||||||
| Halmac | 7,754,000 | 874,298 | 172,704 | |||||||||
| There are 5 main Silver Camps in Canada. | ||
| 1) | Cobalt Ontario – (Mostly Mined out) | |
| 2) | An island in Ontario (now a Federal Park.) | |
| 3) | Gowganda – area- Ontario – mostly controlled by Klondike Silver and Amador Gold Corp. | |
| 4) | Slocan- Klondike Silver 80% (plus) owned by Klondike Silver. | |
| 5) | Yukon – Rejuvenated exploration | |
| Two main properties are owned by Klondike Silver | ||
| 1) | Connaught – 50% owned by Klondike Silver where in 1976 218 tones bulk samples milled at Trail BC resulting in 65 opt Ag at 60% Pb (see December 10, 2007 News Release) | |
| 2) | Stump – 100% owned by Klondike Silver where in 2007 an 80 tonnes bulk sample produced head grades averaging 45 opt Ag and 40% Pb. (refer to News release December 10, 2007) | |
| Sandon Mining Camp – Brief history in numbers: | |||||||
| – | Sandon was incorporated as a city in 1898 | ||||||
| – | More than 5000 people lived in Sandon during its ‘boom’ in the late 1800s | ||||||
| – | In its prime Sandon had 29 hotels, 28 saloons, 3 breweries, theatres, opera houses, cigar factory, soft drink plant, 3 sawmills, 3 churches, x2 newspapers, a schoolhouse, hospital, numerous lodges, clubs, organizations and a curling rink and bowling alley (in addition to one of the largest ‘red light’ districts in Western Canada). | ||||||
| – | 2 major rail lines | ||||||
| – | One of the first trade unions in the province | ||||||
| – | A community with its own hydro electric utility | ||||||
| – | Sandon area had over 200 mines, numerous tram lines and concentrator mills | ||||||
| – | Over 35 billion dollars (in today’s value) of lead, zinc and silver have been produced from the Sandon area mines. | ||||||
Surface and underground exploration is currently underway.
R. Hughes
President
About Klondike Silver:
Klondike Silver Corp. has assembled a quality portfolio of silver properties in historic mineral districts in North America, and is applying advanced exploration technologies to add value to these core assets. Klondike Silver is reviving the Gowganda and Elk Lake silver camps in Ontario, and the world-famous Klondike district of Yukon Territory. The Company owns a 100 TPD fully operational flotation mill in Sandon, BC, which processes material from local mines in the historic Slocan Silver Camp.
Comments
Travis Hartnett
Can someone tell me why it’s trading at 1 cent? Realize no cash and close to a million of current liabilities coming due. Just trying to understand it. Why not do a management buyout if there really is that much value (10mm) in the assets?