Reserves RegionProven DevelopedDevelopedNOTE: Th
Post# of 108
Posted On: 01/21/2014 8:04:14 AM
Reserves
RegionProven DevelopedDevelopedNOTE: The Reserve Summary is based on historical geological and production data, random sampling throughout the leases, independent analysis of samples, and geological analysis by in-house geological staff. The production plans are based on in-house expertise. The reserve summary for domestic reserves is not based on independent engineering reports and, as such, caution should be used in relying on the figures.
The Montana project also has a significant sapphire reserve that has not had a value assigned to it. The testing and published historical test data have shown that there are 2500 carats per ton of rock mined in certain areas. These sapphires range from .5 carats to 14 carats and are of excellent quality.The value is currently being evaluated.
Finally, the company has reassessed the viability of the Colorado project and feels that its resources are better utilized with its operations in Ecuador and Peru.
RegionProven DevelopedDevelopedNOTE: The Reserve Summary is based on historical geological and production data, random sampling throughout the leases, independent analysis of samples, and geological analysis by in-house geological staff. The production plans are based on in-house expertise. The reserve summary for domestic reserves is not based on independent engineering reports and, as such, caution should be used in relying on the figures.
The Montana project also has a significant sapphire reserve that has not had a value assigned to it. The testing and published historical test data have shown that there are 2500 carats per ton of rock mined in certain areas. These sapphires range from .5 carats to 14 carats and are of excellent quality.The value is currently being evaluated.
Finally, the company has reassessed the viability of the Colorado project and feels that its resources are better utilized with its operations in Ecuador and Peru.
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