| | Great Basin Gold Ltd's Burnstone Property is located in South Africa's Witwatersrand Basin, the world's premier gold district. In May 2006, the Company announced the results of a feasibility study, indicating positive returns for underground mining of the Burnstone deposit, utilizing a combination of decline and vertical shaft for access. The Study projects that the mine would produce an average of 214,000 ounces per year at a cash cost of US$254/oz and a life of mine total cost of US$323/oz, over a 14-year mine life. The company is proceeding to acquire permits to develop the project.
Great Basin's Hollister Development Block Project is located on Nevada's Carlin Trend, one of the world's most prolific gold areas. A 2002 preliminary assessment indicated a positive return for an underground mine, producing 193,000 gold-equivalent ounces annually. Hecla Mining Company is earning a 50% working interest in the project by completing an underground exploration and development program. Detailed underground drilling and feasibility studies are currently underway, leading toward a production decision in 2007. | | | GBN | | Natural Resources | | Last: | 10.930 | | Change: | -0.250 | | Volume: | 2,500 | | Day High: | 11.060 | | Day Low: | 10.930 | | |
