Hi Ho seems ready to start the process to go to the TSX or TSX.V as this recent news indicates. (Still a min of 4 to 5 mths.)
''2008-08-12 10:42 ET - News Release
Mr. Fred Fisher reports
HI HO SILVER RECEIVES PRELIMINARY RESOURCE ESTIMATE FOR CARMI
P&E Mining Consultants Inc. has completed an independent initial National Instrument 43-101-compliant resource estimate on Hi Ho Silver Resources Inc.'s Carmi molybdenum property located near Beaverdell, B.C.
Pursuant to a recent letter agreement, Hi Ho Silver has an option to earn up to 100-per-cent interest in the Carmi property from St. Elias Mines Ltd. Hi Ho Silver has already incurred in excess of $1.9-million in exploration expenditures on the Carmi property.
The Carmi property's resource calculations are presented below and are based on a 0.026-per-cent-molybdenum cut-off value.
Classification Tonnes Mo (%) Mo (million lb)
Indicated 12,905,853 0.0580 16.51
Inferred 27,385,238 0.0555 33.51
The 0.026-per-cent-molybdenum cut-off grade was derived from a molybdenum price of $25 (U.S.) per pound and process/roaster combined recoveries of 88 per cent. Process costs of $7.50 per tonne, and general and administrative costs of $3 per tonne were also used to determine the operating cut-off grade.
Eugene Puritch, PEng, and Antoine Yassa, PGeo, of P&E are the independent qualified persons responsible for preparing the resource estimate. The total database for the Carmi deposit contains 221 drill holes with the main zone being flat lying and approximately 1.5 kilometres in length, up to 700 metres in width and with a thickness up to 110 metres. The resource estimate involved three-dimensional modelling methods and parameters, and statistical and grade continuity analyses from drill data on approximate 50-metre-spaced cross-sections. Gemcom modelling software was used for establishing the 3-D geologic interpretation and subsequent inverse-distance-squared block-model grade estimates....''
From the estimates and recovery %, that indicates i pound per ton of moly. Considering the cost to recover that pound and the Moly price, Hi Ho is looking good.
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