GRC Conf call

Today at  9 Mtn. 800 238 9007. Passcode 621855. Of  great interest  the  dore  plant  finally commissioned and  hi grade  stuff   stored all way back to Jul ’10  with  near  6K oz   equal  ready   pour  in  the  2nd  circuit.  Costs  down 52% this  qtr. Time  to see  some liquid  metal not  grey powder  but  crap is  92%  recovered  as  float silver  and  gold. In 3rd  Qtr  $11.4 million from base metal  as  by product aint  shabby. Meant  $960  in base metals  for  each Gold  equal oz  sold vs  $1295 gold  and  $20 silver. Just hard  work hauling  around.  Dore still produced  by  float but   added  Knelson  Concentrators   give  them pure  PM to  self refine    and  save  a  bundle. Agitated  leach not  used  but  I’d  say the  furnacing area of  2nd  circuit  makes  the dore since  was  none in the  float  circuit.  Still looking  for  a  single  high grade  PM source in  places  like  Alta  Gracia as  time allows  with about  5  drills if  I hear  right. Arista development   lets  them be  moved some  distance  for awhile.

“Alta Gracia property:  Diamond drilling commenced at Alta Gracia during the third quarter of 2014.  Fifteen diamond drill holes totaling 2,991 meters were completed during the quarter.  Exploration drilling is targeting extensions of known ore zones historically mined at Alta Gracia.”

3 surface  veins there   are polymetalic hi grade  so best   PM source  is  still most  distant  El Rey not well  drilled just  sampled as  probable  open pit

“The El Rey property is located approximately 64.4 kilometers (40 miles) from the El Aguila Project at the northwest end of the Company’s land position along the “San Jose structural fault corridor”. The El Rey property consists of 2,773 hectares. Limited drilling at El Rey has encountered gold and silver mineralization up to 1 meter of 132.5 grams per tonne gold (4.25 ounces per tonne) and 1.5 meters of 958 grams per tonne silver. The mineralized material has been located within 100 meters from the surface.”

Would  have  helped  to have  previewed  the  10Q but  been busy with  our own mine and  just  came put  y’day covering  Sept  30th. Still of  great interest as  a  good to  diversify back into some  time. Monday 5th $3.50 may have been a  good one.  About same  low in  5  years  as  May 12th with rise  to $6. Should  find  a  profit out point  there  someplace!  8

2 thoughts on “GRC Conf call”

    1. Jason mentioned a possible problem with the profits tax increase allowing dividends but I seem to think with the 52% decrease in cost and actually turning a profit if the metal were sold now held I am sure they’ll keep some dividend just to keep the record thick and thin since July ’10. Meant it when I said hi to Bill and Dave. But for 30 min “detained status” March ’10 treated me awfully well. Reid’s are a wonderful family and real human beings not executives. I see the Broadmore office townhouse sold to “related” but arms length and office space leased back. Bill does love the spot , who wouldn’t, so I assume was he. When I’m totally involved I go for the person not the title. 8

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