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Asian Gold reserves DB
Megradzor Gold Mine (Armenia)
      paishanlou gold mine (china)
      gaolong gold mine (china)
      ..................
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  Page 364
 
اولينقبليبعديآخرين
   On a stand-alone basis, the redevelopment and expansion would produce operating cash flow during the first seven years averaging US$18.1 million per year at an assumed gold price of US$300 per ounce. Current production from the Ararat Plant would increase total operating cash flow to an average of US$20.4 million over the first seven years.
   The expanded plant was expected to reach its design capacity in September of 1999. This schedule was, however, contingent on obtaining project finance.
  

Table of Reserve and grade of Megradzor Gold Mine
    Present Status
   The Plant has produced 102,960 troy ounces of equivalent gold in the Calendar year 2002 and 59,345 troy ounces in 2003.
   In 2002 a small scale operation designated the Test Pit began. A total of approximately 300,000 t of ore was mined from this pit to produce around 28,000 oz of gold. All ore mined was transported by rail to Ararat. This pit was deemed a success and a Phase II pit was commenced in mid 2003. This Phase II pit was planned to mine around 2 Mt of ore at a grade of 5.2 g/t Au. It was expected that production from this pit would be completed by early 2005.
  
 
 
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