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Vet67to82 (< 20)

Gold, Silver, n Copper - Did I mention GOLD?

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108

November 26, 2009 – Comments (2) | RELATED TICKERS: ABX , KGC

Gold

When it comes to gold I really only have two things to say:
(1) Barrick Gold (ABX)
(2) Kinross Gold (KGC)

Why? ... glad you asked!

Gold, Silver, and Copper ... as in Cerro Casale, Chile WOW!!!!

Kinross acquired its 49% interest in the Cerro Casale gold-copper deposit in northern Chile on February 28, 2007, through its acquisition of Bema Gold. Barrick Gold held the remaining 51% interest. As a result of a new shareholders agreement entered into with Barrick and an associated reorganization of the corporate ownership in September 2009, each of Kinross and Barrick now have a 50% interest.

Discovered in 1996, Cerro Casale is located 145 kilometres southeast of Copiapó, and is directly south of Kinross' Maricunga mine.

The Cerro Casale deposit is a large gold and copper orebody with reserves (100%) of approximately 21 million ounces of gold and 5 billion pounds of copper. It is reputedly one of the largest undeveloped gold/copper deposits in the world.

21 mil oz x $1192 = $25,032,000,000 ($25 Billion) in the ground ... WOW !!!!

2 Comments – Post Your Own

#1) On November 26, 2009 at 10:09 AM, binv271828 (< 20) wrote:

Vet, I am on board! Thanks for the write up!

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#2) On December 04, 2009 at 2:24 AM, Vet67to82 (< 20) wrote:

You are welcome binv.  One thing I want to correct is that Barrick Gold acquired its 51% stake thru its purchase of Arizona Star per a 10/29/2007 ABX Press Release.   If you look at the price of gold in 2007 ... both KGC and ABX made real good deals. 

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