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the Keystone Mining Project # L690

 

 

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Keystone Mining Project #L690
Inyo County, California
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44 twenty acre BLM lode claims and 12 five acre BLM mill sites with California Water Rights
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Reopening Gold Mine
• 5100 ounces of gold mined and sold during low volume development stage
• Low production cost - $215 per ounce*
• Approximately $5.5 million already invested in project!
• Gold Reserves - $232 million proven/inferred so far in only two areas under development
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Projected Net Revenue @

  • $650/oz gold would be $26 million per year
  • $950/oz gold would be $37 million per year

 

Co. Needs Large Investment to re-permit, commence a drilling program, and build a 400 ton per day gravity flotation system.
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Investment required - $29.4 million in two stages

  • $5.1. Million for 6 - 10 months
  • $24.3 million for another 8 months before full scale gold production can begin.

Will Consider

Debt or Equity Funding
 

The Keystone mining project consists of several underground quartz veins containing high grade gold ore and have been identified as the Keystone System, the Eight Ounce System, the Eight Ounce South target and the Gold Coin Target.

The project began in 1980 under the present management. Although it operated the mine and the mill at a profit, operations were suspended in 1991 in order to construct a new mill closer to the mine and eliminate long distance ore haulage which impaired net profit.

During this low volume development stage the company produced and sold 5100 ounces of gold. Historical production costs were $178 per ounce however projected mining costs are $215 per ounce of gold. . Average production grade of the ore is .42 ounces per ton at the Keystone Mine and approximately 1 ounce per ton at the company's Eight Ounce mine. At the current gold price of $950 per ounce, net revenue per ounce is expected to be $735 per ounce!

The company has an experienced management team and approximately $5.5 million has been invested in this project so far. They need $29.4 million to upgrade this proven gold mine into a modern high production gold mine. If you or you company has the ability to fund such a project, you should contact the owner for more information right away.