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  • mdpetrosky mdpetrosky Nov 24, 2012 6:29 AM Flag

    How large is there gold mine?

    thanks, can't find it.

    Sentiment: Hold

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    • The Copperstone property consists of 284 contiguous un-patented Federal mineral claims comprising 5,680 acres. The land is under the jurisdiction of the United States Bureau of Land Management (BLM). The Patch Living Trust ("PLT") of Scottsdale, Arizona owns the title to the 284 mineral claims. In June 1995, the Copperstone property was leased from PLT by APMI for a 10 year term and was renewed on June 12, 2005. The annual claim fees payable to the BLM are approximately US$30,000. An annual US$30,000 advance royalty is payable to PLT under the terms of the lease and is subject to a 1 percent production gross royalty so long as the price of gold in US dollars is less than US$350 per ounce (royalty increases to 6 percent as price of gold increases to over US$551 per ounce).

    • The life of the mine is more appropriate than the size of the mine. Their gold mine has reserves that will last at least 6 years. According to the NI43-101 compliant 2010 Feasibility Study, "The Study results indicate a total of 256,430 ounces of gold can be mined from current known diluted Proven and Probable Mineral Reserves during the 6.3 year mine life at Copperstone."

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