Thursday, May 15, 2014

Corksucker Mark Turner strikes again ... RIO.t - UPDATE

Here she be ...

"Here's (sic)an expanation (sic) of how weak the mining market is at the moment

The news from Rio Alto Mining (RIO.to) (RIOM) $RIOM this morning that it's hit new swathes of mineralization at La Arena outside its current reserve pit looks good to add at least a couple of years' worth of production to the mine. Or if you like and to use very round (and conservative) numbers, two years of production at 200,000 ounces a year that cost $1,000 all-in (zero extra to that, with op cash cost maybe $650/oz) to produce and then sell at $1,300/oz.

Can you do three hundred multiplied by four hundred thousand? Yeah, me too.

However, the above news from RIO.to is likely to be neutralized at market by a $10/oz downmove (sic) in bullion today and the stock price will do nothing. Ladies and gentlemen, IKN presents your pathetic market for juniors."
http://incakolanews.blogspot.ca/2014/05/heres-expanation-of-how-weak-mining.html
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Our boyoTard Mr. Mark Turner at incakolanews.blogspot.ca/ has proven beyond any possible doubt he is basically a crooked fukkin turd.

Rio Alto Mining released drill results and our retard had this to say ...
"Two years of production at 200,000 ounces a year that cost $1,000 all-in (zero extra to that, with op cash cost maybe $650/oz) to produce and then sell at $1,300/oz. Can you do three hundred multiplied by four hundred thousand? Yeah, me too."
So what's the problem? The co is currently processing rock at around 1.57 grams per tonne. (if memory serves) and that is where the cost of around $ 1,000 comes from.

Very, VERY obviously if your head grade drops to .70 per, your fukkin costs are NEVER going to be $ 1000. It takes twice the amount of rock for the same amount of gold. This ain't bloody damn rocket science and IF the self proclaimed "expert" on mining is making this "error" then he must be stupid as a piece of putrid dog chit.
That may be possible but we suspect he MUST be getting paid off to screw people. Given the ongoing stupidity from day one this is far more likely than not.

Bottom line here is that latest results are very, very probably uneconomic, even with complete infrastructure in place.