G-9 : A World Class Zinc Mine with Low Cash Costs - Mexico

2009 Production Target: 120 million lbs Zinc, 15 million lbs Copper, 1.5 million oz Silver, 14,500 oz Gold & 6 million lbs Lead

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Message: Lundin refreshes Farallon buy

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Lundin refreshes Farallon buy

posted on Nov 28, 08 10:03AM

Lundin refreshes Farallon buy

2008-11-28 14:56 ET - In the News

Brien Lundin, in the November, 2008, edition of the Gold Newsletter, refreshes his buy of Farallon Resources Ltd., recently 19 cents. The Gold Newsletter's former editor, James Blanchard, said buy Farallon on Oct. 30, 1997, at $4.55, and Mr. Lundin said buy eight times from November, 2004, to July, 2008, at prices ranging from 57 cents to 98 cents. Assuming a $1,000 investment for each of the nine buys, the total $9,000 investment is now worth $2,192.

The stock market guru says Farallon's Campo Morado in Mexico is edging closer and closer to being fully operational, having produced 3,000 tonnes of saleable concentrate zinc by Oct. 1.

Miners have now mucked out about 33,000 tonnes of ore that runs on the order of 6 per cent to 12 per cent zinc.

Mr. Lundin writes that the outfit trucked its first load of concentrates to the port of Manzanillo on Oct. 16, and plans to haul about 1,600 tonnes each week for the next few months. When the mine hits full stride in January, 2009, the newsletter editor expects the company to crank up its haul rate to 2,600 tonnes per week.

He also expects Campo Morado to be a lucrative mine in a little more than two years.

Blur sky

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