Mexico Gold
Friday, February 26th, 2010Mexico Gold
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SUPERB TOP RICH RED RUBY TOP GREEN PERIDOT 14K GOLD PLATED 925 SILVER RING NR |  |
2 Bids | US $7.50 | 16m |
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FLASHY 245CT PAVE LRG DIAMOND 14K WG W INITIAL PENDANT | |
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US $1,250.00 | 17m |
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WWE ONLY 1 SIN CARA AZUL GOLD V SIN CARA MATTEL HUNICO EVIL BLACK COSTUME FIGURE | |
1 Bid | US $36.32 | 17m |
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DELUXE GENUINE TOP BLACK BLUE SAPPHIRE 3p DIAMOND 925 SILVER BRACELET NR | |
4 Bids | US $23.00 | 18m |
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RED CARPET 14K gold Mexican Fire Opal Diamond Gemstone Ring 65ctw Size 8 WOW | |
0 Bid | US $2,070.00 | 19m |
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RED DIRTRED DIRT4 PROG | |
2 Bids | US $11.83 | 19m |
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ELEGANT GENUINE TOP ZIRCON TANZANITE AMETHYST 925 SILVER RING $099 No Reserved | |
2 Bids | US $7.50 | 19m |
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HelloKitty Long Tri fold Coin Wallet Purse Gold H78U | |
0 Bid | US $14.46 | 20m |
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ELEGANT REAL TOP RICH ORANGE MOZAMBIQUE GARNET 14K GOLD PLATED 925 SILVER RING | |
0 Bid | US $39.99 | 20m |
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ZARA Tan Beige Brown Camel Pumps Gold Heel 38 7 1 2 75 NEW | |
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US $149.99 | 23m |
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E457 Elegant 125x40mm Wedding Bridal Peacock Hair Clip use Swarovski Crystal | |
0 Bid | US $22.12 | 24m |
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45 RPM ELVIS PRESLEY SURRENDER LONELY MAN | |
1 Bid | US $.99 | 24m |
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4in DREDGE CONCENTRATE GOLD PANNING PAYDIRT NUGGETS 1 4 | |
6 Bids | US $17.50 | 26m |
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ELEGANT REAL TOP YELLOWISH TOURMALINE TOP DEEP BLUE SAPPHIRE 925 SILVER RING | |
6 Bids | US $21.49 | 26m |
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SUMPTUOUS GENUINE TOP SMOKY QUARTZ 2pcsDIAMOND GOLD PLATED 925 SILVER BRACELET | |
16 Bids | US $34.00 | 27m |
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2008 S Silver State Quarter Set NGC PF70 Ultra Cameo Flag Label | |
11 Bids | US $92.27 | 27m |
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45 RPM ELVIS PRESLEY THE SOUND OF YOUR CRY ITS ONLY LOVE | |
1 Bid | US $.99 | 28m |
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Good Gift Mens Stainless Strap Golden Dial Quartz Watch | |
0 Bid | US $.99 | 28m |
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MASTERPIECE PORCELAIN LION CUB WITH TURTLE FIGURINE 1985 | |
0 Bid | US $9.99 | 28m |
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NAJEE NAJEES THEME EMI AMERICA JAZZ BOOGIE CLASSIC 12 LP NEAR MINT COPY | |
0 Bid | US $4.99 | 30m |
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white Crystals Tiger Head 18k white gold GP Ring | |
0 Bid | US $.02 | 30m |
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45 RPM ELVIS PRESLEY CLEAN UP YOUR OWN BACK YARD THE FAIR IS MOVING ON | |
0 Bid | US $.99 | 31m |
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The Holy Bible Catholic Confratertiny NAB Edition | |
0 Bid | US $7.99 | 31m |
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ROBBIE NEVIL SELF TITLED SYNTH DANCE ROCK BOOGIE FUNK 12 LP NEAR MINT COPY | |
1 Bid | US $4.99 | 33m |
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45 RPM ELVIS PRESLEY IM LEAVIN HEART OF ROME | |
1 Bid | US $.99 | 34m |
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ALLURING REAL TOP RICH ORANGE SAPPHIRE 14K GOLD PLATED 925 SILVER RING SIZE 7 | |
10 Bids | US $25.00 | 34m |
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ELEGANT REAL TOP SKY BLUE TOPAZ TOP YELLOW CITRINE GOLD PLATED 925 SILVER RING | |
6 Bids | US $9.49 | 35m |
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PRECIOUS REAL 48pieces WHITEPEACH DIAMOND 14K GOLD PLATED 925 SILVER BRACELET | |
14 Bids | US $65.00 | 36m |
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Lady of Guadalupe Silver Medal Charm Pendant Lot of 2 Mexico Virgen Milagros | |
1 Bid | US $1.99 | 36m |
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STEVIE NICKS BELLA DONNA 1981 SYNTH DANCE ROCK CLASSIC 12 LP ORIGINAL COPY | |
0 Bid | US $4.99 | 36m |
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E471 Elegant 105x64mm Wedding Bridal White Gold Plated Rhinestone Hair Pin | |
0 Bid | US $15.01 | 36m |
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Lady of Guadalupe Silver Medal Charm Pendant Lot of 2 w Child of Atocha | |
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US $4.95 | 37m |
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18K WHITE GOLD PLATED COLOUR DISNEY MICKEY MOUSE BRACELET USE SWAROVSKI CRYSTALS | |
0 Bid | US $11.04 | 38m |
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New POP Crystal Analog Quartz Womens Band Watches S96 | |
0 Bid | US $1.56 | 38m |
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RAVISHING TOP MOZAMBIQUE GARNET TOPAZ 2p DIAMOND 925 SILVER EARRINGS NR | |
6 Bids | US $20.50 | 38m |
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STEVIE NICKS THE WILD HEART SYNTH DANCE ROCK CLASSIC 12 LP NEAR MINT ORIGINAL | |
1 Bid | US $4.99 | 39m |
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WHITE GOLD PLATED PEACOCK TAIL COLORFUL DANGLE EARRINGS USE SWAROVSKI CRYSTALS | |
0 Bid | US $9.31 | 39m |
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18K WHITE GOLD PLATED BUTTERFLY HEART PENDANT NECKLACE USE SWAROVSKI CRYSTALS | |
1 Bid | US $9.46 | 41m |
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Ringo Starr Times take Times LP 1992 PROMO Beatles Brazil | |
0 Bid | US $19.00 | 41m |
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STEVIE NICKS ROCK A LITTLE SYNTH DANCE ROCK CLASSIC 12 LP ORIGINAL COPY | |
0 Bid | US $4.99 | 42m |
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18K WHITE GOLD PLATED PEARL FLOWER PENDANT NECKLACE USE SWAROVSKI CRYSTALS | |
0 Bid | US $9.45 | 42m |
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Mens Wrist Watch Black Crystal Dial Two Tone Date Box | |
0 Bid | US $8.99 | 44m |
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NIGHTLIFE UNLIMITED SELF TITLED DISCO CLASSIC 12 LP NEAR MINT ORIGINAL PROMO | |
1 Bid | US $5.99 | 45m |
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Men BLK Diamond Dial Gold Date Steel Quartz Watch 219N | |
0 Bid | US $8.49 | 48m |
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NITEFLYTE SELF TITLED ARIOLA SOUL FUNK DISCO 12 LP NEAR MINT ORIGINAL PROMO | |
3 Bids | US $16.49 | 49m |
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Primitive Rustic Carved Wood Picture Frame Black Gold 8 x 10 | |
0 Bid | US $22.45 | 49m |
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4GB 18 Touch Screen 6th Gen FM Clip MP3 MP4 Player V | |
0 Bid | US $.96 | 50m |
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45 RPM ELVIS PRESLEY I WANT YOU I NEED YOU I LOVE YOU MY BABY LEFT | |
1 Bid | US $.99 | 50m |
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45 RPM ELVIS PRESLEY BLUE MOON JUST BECAUSE | |
1 Bid | US $.99 | 52m |
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X672 Olympische Spiele 1968 postfr Oman GOLD im Folder | |
2 Bids | US $1.97 | 52m |
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NONSTOP DISCOTHEQUE PARTY DANCE INSTRUCTIONAL DISCO 12 LP SHRINK NEAR MINT | |
0 Bid | US $5.99 | 52m |
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X674 Olympische Spiele 1968 Oman GOLD overpr Meyer | |
2 Bids | US $1.97 | 53m |
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45 RPM ELVIS PRESLEY SHAKE RATTLE AND ROLL LAWDY MISS CLAWDY | |
0 Bid | US $.99 | 53m |
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X676 Olympische Spiele 1968 Oman GOLD overpr Hemery | |
4 Bids | US $3.28 | 54m |
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NU SHOOZ POOLSIDE ELECTRO FUNK CLASSIC 12 LP NEAR MINT ORIGINAL COPY | |
0 Bid | US $4.99 | 55m |
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Missouri kansas texas railroad share certificate framed | |
0 Bid | US $7.88 | 56m |
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45 RPM ELVIS PRESLEY JAILHOUSE ROCK TREAT ME NICE | |
1 Bid | US $.99 | 56m |
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18K WHITE GOLD PLATED HEART STUD EARRINGS USE SWAROVSKI CRYSTAL | |
1 Bid | US $8.83 | 56m |
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WWE SIN CARA FULL COSTUME MATTEL ELITE AZUL GOLD WRESTLING FIGURE LIMITED LUCHA | |
1 Bid | US $20.52 | 58m |
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45 RPM ELVIS PRESLEY I BEG OF YOU DONT | |
1 Bid | US $.99 | 58m |
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Royal Mens Quartz Luxury Black Stainless Steel Watch | |
0 Bid | US $.99 | 58m |
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GARY NUMAN THE PLEASURE PRINCIPLE ELECTRO ROCK CLASSIC 12 LP ORIGINAL COPY | |
0 Bid | US $4.99 | 1h |
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45 RPM ELVIS PRESLEY WEAR MY RING AROUND YOUR NECK DONCHA THINK | |
0 Bid | US $.99 | 1h 1m |
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THE LIMELITERS PURE GOLD 1977 NM2336 REISSUE GT RECORD | |
0 Bid | US $3.00 | 1h 4m |
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Gold Panning in New Mexico the How to book with locations and Information | |
6 Bids | US $20.27 | 1h 4m |
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Vintage PLANET OF THE APES Azrak Hamway AHI DR ZAIUS 1970s Parachute Figure Rise | |
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US $42.99 | 1h 4m |
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Mens Crystal Dial Two Tone Date Quartz Wrist Watch 238N | |
0 Bid | US $9.49 | 1h 5m |
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New VINTAGE WHITE DIAL Arabic Unique Gold Dragon Quartz Mens Pocket Watch Chain | |
0 Bid | US $.99 | 1h 6m |
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The Gold of Exodus The Discovery of the True Mount Sinai by Howard Blum | |
0 Bid | US $4.99 | 1h 6m |
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Pedrazzini Mine Or § Argent Gold Silver Mine Mexico | |
0 Bid | US $1.31 | 1h 14m |
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Cook Islands 2008 5$ Nicolaus Copernicus SILVER WITH PURE GOLD SVAROVSKI | |
12 Bids | US $48.00 | 1h 15m |
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BARBIE DOLL MODEL MUSE BARBIE BASICS NUDE KHAKI GOLD HEEL SHOE ASSORTMENT LOT NR | |
10 Bids | US $13.50 | 1h 18m |
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HELLOKITTY CAT 18K WHITE GOLD PLATED DANGLE EARRINGS USE SWAROVSKI CRYSTALS | |
0 Bid | US $9.46 | 1h 20m |
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Hutschenreuther Jahresdose Mexico 2002 limitiert auf 5000 ea 1 Wahl OVP | |
0 Bid | US $104.84 | 1h 20m |
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Mens Two Tone Quartz Date Wrist Watch Crystal Dial New | |
0 Bid | US $9.49 | 1h 22m |
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Elegant Mens Black Round CZ Dial Gold Case Wrist Watch | |
0 Bid | US $.99 | 1h 22m |
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Aviator Sunglasses for Men Rebel Style in Color Gold DG Men Accesories 011gold | |
2 Bids | US $10.50 | 1h 22m |
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1pcs Gold Leather Bracelet Fit European Beads 22cm S12 | |
0 Bid | US $.99 | 1h 23m |
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size 8 1 2 510cttw CHOCOLATE SMOKEY TOPAZ GREEK 925 STERLING SILVER RING M3832 | |
4 Bids | US $9.51 | 1h 26m |
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1783 MO FF BR Treasure El Cazador 8 Reale genuine Shipwreck coin | |
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US $320.00 | 1h 26m |
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8 Goldmünze Krügerrand Buffalo Maximilian Eagle Liberty Mercury Indian 22k pl NP | |
2 Bids | US $3.28 | 1h 26m |
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FRANKLIN LIBRARY LEATHER House Made of Dawn N SCOTT MOMADAY Pulitzer Prize 1969 | |
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US $39.99 | 1h 28m |
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100 Tazos Angry Birds 2012 Mexico | |
12 Bids | US $43.00 | 1h 30m |
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18K WHITE GOLD PLATED 6MM SQUARE CUT CUBIC ZIRCONIA CZ HIP HOP STUD EARRINGS | |
0 Bid | US $9.46 | 1h 31m |
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18K WHITE GOLD PLATED 2 ROWS 10 STONES HOOP EARRINGS USE SWAROVSKI CRYSTALS | |
0 Bid | US $9.15 | 1h 31m |
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VINTAGE BLUE WHITE BALL IN GOLD HOOP DANGLE LEVERBACK EARRINGS | |
0 Bid | US $9.99 | 1h 31m |
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Antique Victoria Czechoslovakia 24k Gold Platinum Porcelain Lamp 1920 1945 | |
3 Bids | US $2.50 | 1h 37m |
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18K WHITE GOLD PLATED 8MM SQUARE BLACK CUBIC ZIRCONIA CZ HIPHOP STUD EARRINGS | |
0 Bid | US $11.04 | 1h 38m |
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PEARL 18K WHITE GOLD PLATED DANGLE EARRINGS USE SWAROVSKI CRYSTAL | |
0 Bid | US $9.88 | 1h 38m |
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Zippo Lighter Black Matte HORIZON | |
1 Bid | US $7.95 | 1h 39m |
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M 1966 MONO 1st LOVE Arthur Lee GARAGE FUZZ Psych ARTHUR LEE FUZZ PUNK SHAKER | |
12 Bids | US $102.50 | 1h 41m |
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STARFISH 925 Silver 22k Gold Plated Starfish Post EA | |
0 Bid | US $49.46 | 1h 42m |
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Damaged Heroclix Horrorclix Lot for custom work almost 2 pounds | |
4 Bids | US $.16 | 1h 42m |
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NWT WEST VIRGINIA University WVU Mountaineers Mens Cotton Shirt M Medium | |
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US $13.99 | 1h 44m |
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Mellenium Shield | |
1 Bid | US $.99 | 1h 44m |
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New Gold Metal Back Cover Case For ATT Samsung Galaxy S II 2 i777 i9100 | |
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US $14.99 | 1h 45m |
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Mexico Mexican Flag Wall Desk CD Clock Stand | |
0 Bid | US $7.09 | 1h 47m |
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1959 MEXICO PRESIDENT VENUSTIANO CARRANIA GOLD COIN MEDAL SELLING FOR MELT | |
0 Bid | US $899.00 | 1h 49m |
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Nice Mixed Lot SS 925 Taxco Turquoise Ruby Gemstones CZ Wear or Scrap 118 gr | |
2 Bids | US $66.00 | 1h 49m |
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Golden Elephant in Mexico Metates advances with 28 MMoz AuEq
chesapeakegold.com • 604.731.1094
P. Randy Reifel
President
During the past 25 years, Randy Reifel, President Chesapeake Gold, has an undeniably successful record in the resource sector. Prior to establishing Chesapeake, Mr. Reifel was president of two exploration companies focused in Latin America: Carson Gold and Francisco Gold. Mr. Reifel's early recognition of the potential of the Kilometer 88 gold district in Venezuela led to Carson Gold being acquired in 1993. He hit another home run with Francisco Gold, which discovered the world class El Sauzal and Marlin gold projects. He then sold Francisco to Glamis Gold in 2002 for $390 million. Today Mr. Reifel's Chesapeake Gold (TSXV: CKG) is advancing its 100% owned Metates project (28 million oz gold equivalent resource) in Mexico to pre-feasibility.
Resource Intelligence: Randy, your history of success speaks for itself. Before we talk about your current work, would you comment on your past successes with Carson and Francisco?
Randy Reifel: Of course. Carson was a case of being in the right place at the right time. I was fortunate to be in Venezuela when Las Cristinas was still being mined by thousands of garimpeiros. The potential of the district was immense. Patience and focus led to Carson assembling a significant land position in Kilometer 88 before it was recognized internationally, followed by the ensuing gold rush.
I also recognized the challenges and risks of doing business in Venezuela. When the mania became too rich it was also evident that it was the time to sell control of Carson Gold. A prudent decision then, and now, in retrospect.
Francisco's success was based on the grassroots discovery of two great gold projects. El Sauzal, in Mexico and Marlin, in Guatemala, which were discovered by the old fashioned "boots and hammers" approach. I am a business man, not a geologist. Most of the credit for our success belongs to my geological team for their passion and perseverance.
From the business side, the sale of Francisco to Glamis was an innovative transaction that is now becoming commonplace. Chesapeake was a spin-out exploration company from Francisco and, I believe, one of the first "Exploration Spin-Cos" for future M&A templates.
RI: Chesapeake was spun-out from Francisco Gold in 2002. When did you acquire the massive Metates gold project?
RI: I negotiated to acquire Metates in 2005 from American Gold Capital when gold was trading at $425/oz. By the time the transaction closed in late 2006, gold was trading at $650/oz.
RI: Metates was drilled and advanced to pre-feasibility by Cambior in the early 1990s. The project is one of the largest undeveloped gold and silver projects in the world, yet it sat dormant for a decade before Chesapeake acquired it. Besides higher metal prices, what has changed since Cambior owned Metates?
RI: First, as you suggested, Cambior was confronted with sub-$400/oz gold prices, as compared to current metal prices. Also, Metates' ore is refractory ore; during the 1990s technologies such as pressure oxidation to extract gold from refractory ore were in their infancy and relatively unknown. Today, many of the largest gold deposits in the world are very successful, profitable mines using pressure oxidation.
RI: When you acquired Metates what was your objective? And what was your biggest challenge?
RI: Metates is a massive, well defined resource containing at today's metal prices a gold equivalent resource of more than 30 million ounces. However, despite its size, the deposit is relatively low grade (1 g/t gold AuEq), metallurgically challenged and located in the Sierra Madres. My objective was to develop a process flowsheet using off-the-shelf conventional technologies, scalable to a large open pit mine. The challenge was whether the outcome would result in capital and operating costs that would foresee the project feasible in an $850/oz gold environment.
RI: In 2010, Chesapeake released a Preliminary Economic Assessment report (PEA) that showed excellent economics at $900/oz gold and $14/oz silver. What were the major factors contributing to such strong project economics?
RI: There were several key factors that M3 Engineering and our technical team and other consultants developed that led to the solid results in the PEA. Designing a pipeline to transport a bulk concentrate downhill to a location proximate to excellent mine infrastructure unlocked major value. The conceptual flow sheet has two significant inputs impacting operating costs: Power and limestone. The pipeline enabled the process facilities to be sited on a large limestone resource and close to the Mexican power grid. Power consumption is approximately 35%-40% of Metates operating costs, and that is why we are looking at dedicated power to supply low cost, long term stable electricity. Close proximity to the limestone resource has reduced our cash costs for tailings neutralization by as much as $50-$75/oz.
Also, as you would expect, a low grade deposit requires the economies of a large scale, open pit operation, which is difficult in a mountainous setting. The pipeline facilitates a plus-100,000 tpd open pit mine utilizing the existing topography and canyons as natural storage for the waste rock and tailings. The process facilities are now located in the foothills in a relatively flat terrain close to available water, transportation and labour.
RI: What are Chesapeake's plans to move the project further ahead in 2011?
RI: Chesapeake has a busy year planned to further advance Metates to pre-feasibility. Last week, a 20,000 metre core drill program commenced to convert the inferred resources to the indicated category. Metates is by no means drilled-out and over 20 step-out holes are planned to increase the resource size. We believe the project economics can also be further improved by increasing the ore throughput to 120,000 tpd and evaluating various CAPEX trade-offs for the power source, pipeline route, grinding circuit and alternative zinc recovery processes.
RI: Any idea as to the impact these measures will have on the project's economics?
RI: We're still in early days, but preliminary work indicates that increasing the mining rate together with the trade-off studies underway will greatly improve the IRR shorten the capital payback timeline.
RI: When do you anticipate the PFS to be completed?
RI: Late 2011. Most likely late November to
early December.
RI: How will Metates rank as a gold and
silver producer?
RI: Once in production, Metates will be one of the top ten gold and, interestingly enough, silver producers in the world. At 120,000 tpd, Metates will produce about 20 million ounces of silver annually, out-performing most pure silver mines. If you are a bull on silver, you become a bull on Metates because it is one of the big elephants out there today.
RI: You recently spun out the Talapoosa project into a company now called Gunpoint Exploration. You retained 82% ownership of this company.
RI: Talapoosa is a meaningful asset with 1 million ounces AuEq that was not getting recognized in Chesapeake. With strong metal prices, it seemed prudent to place it in a vehicle where not only the known resource can be increased but the project's exciting exploration upside can be tested. Max Baker, the CEO for Gunpoint, is one of the top geologists I know in the industry. Max believes Talapoosa has the potential to be a 2-3 million ounce gold deposit and a 7,000 meter drill program is planned this spring. The Mexican gold projects vended to Gunpoint also provide a promising exploration pipeline as well.
Investor Highlights:
- Stage: Preliminary Economic Assessment study
- Market cap: $508 million
- Share price: $12.75
- as of February 22, 2011
- Commodity: Gold, silver, zinc
- Mine life: 27 years
- Cash: $22 million
Highlights:
- Massive Mexican resource: Measured and indicated 17.2MM oz Au, 467 mm oz Ag and 3.4 bn lbs Zn plus inferred resources
- Deposit open along strike in both directions
- 20,000 meter core drill program underway
- 27 year mine life at 90,000 tpd
- Life of mine annual gold equivalent production averages 722,700 oz at a direct cost of US$366 per ounce including zinc credits
- Metates is located in mine friendly Durango, Mexico
- Prefeasibility study (PFS) due late 2011
- PFS will increase throughput to 120,000 tpd and improve overall project economics
- Chesapeake holds 82% of Gunpoint Exploration (GUN:TSX-V) with 1MM oz (AuEq) Talapoosa project in Nevada
About the Author
CONCACAF Gold Cup 2011 Group A Mexico 5-0 El Salvador - Highlights 06/05/2011