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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

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Message: Rusoro/Hecla

Re: Rusoro/Hecla...more than meets the eye

in response to by
posted on Jun 21, 2008 10:02AM

most of you know where i stand when it comes to the russians but putting that aside....why has no one asked these questions?

other than "building up the resource #'s" why would rusoro buy HL's ven business????

the lacamorra unit is effectively shut down because the production costs have become prohibitive (theres almost no gold left) and i'm having trouble finding any kind of reserve estimates on mina isadora.....from what i can see the area is pretty well played out and the cash costs are making it a "break even" and more importantly HECLA HAS TO HAVE SOME KIND OF REFORESTATION/END LIFE RESPONSIBILITIES.....so why would a mining company buy a liability????

imo, rusoro is building up thier resource numbers to look impressive but the profit may not be there (there historic PPS performance is'nt all that impressive)....in summary, dont trust the russians.....



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