Monday, February 8, 2010

Key low-profile equipment expected in April (should substantially advance mechanization of Lamaque)

From the Feb. 2nd update NR:

``Low-profile underground mechanized mine equipment has been ordered, with delivery expected in April of 2010.``


From the latest conference call:

*25% of our reserves and resources are sitting in flats

*historically, room and pillar mining was done on these flats at Lamaque, using jacklegs, slushers, etc.

*a couple of the mining equipment companies have built this new low-profile new mining equipment

*with the advent of this new low-profile equipment, long tom drills and low-profile trucks (low-profile jumbos), we are going to convert completely to what Century calls mechanized mining

*as a result, Lamaque will have some of the latest technology in the industry – some of the equipment is actually coming up from South Africa, where they are currently using this low profile equipment

*all of our jacklegs are going to Peru, where we are still mining very narrow veins and fairly flat dipping areas (the jacklegs will represent an update at San Juan)

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