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Cambridge Mineral Resources

  • BY: Andrew Hore |
  • POSTED: 13/08/2008 |

Cambridge Mineral Resources has completed the feasibility study for the Rasuhuilca silver-gold project.

The miner expects to produce 1m ounces of silver and 15,000 ounces of gold over a five year period. The fully depreciated cost of producing the silver is $8 per ounce.

The study uses a silver price of $14.50 per ounce and a gold price of $900 per ounce. The current silver price is similar but the gold price has fallen by around 10%.

Over five years the study estimated that the mine could make post tax profits of $9m over five years.

At 1.5p a share, Cambridge is valued at £4.37m.

Cambridge raised £400,000 at 2p a share in March 2008. That won’t last it long, though.

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