Company Forecasts Excellent Profit Margin and all in costs of $400 an ounce of gold produced
Gold and Silver Mining of Nevada, Inc. ("CJTF") ("the Company"), (PINK SHEETS:CJTF) a junior mining company in Nevada, has completed its estimated analysis of costs for its Nevada Gold Mine joint venture production.
- (1888PressRelease) January 13, 2017 - Las Vegas, Nevada - Company Forecast Excellent Profit Margin with estimated $400 an ounce all in cost projections
Fred Anderson, the company President and part owner of the joint venture, reviews the analysis:
• This Nevada Gold Mine consists of 840 acres of near surface alluvial fine free gold which only needs to be screened, and concentrated and then melted down into dore bars.
• The equipment manufacturer we have selected specialized in recovering alluvial fine free gold and claims up 90 to 99% recovery through their equipment.
• The process does not require any chemicals and therefore is environment friendly.
• A relatively small crew of 3 to 5 can easily run the equipment, conduct ongoing additional sampling, and complete reclamation of the site.
• Since the ore is near the surface with no overburden to move around, the mining and processing operation removes the ore, screens and concentrates the ore and puts the ore back where it was removed from.
• We have performed our due diligence and prepared our pro forma cash flow projections which show that when we are in Stage 1 Production we project to recover approximately 8 ounces of gold per day.
• Our costs per day comprise of $1,000 per day for equipment, $1,500 per day for personnel and $700 per day for overhead for a total all in cost of $3,200 per day or $400 an ounce of gold produced.
Estimated Gross Profit Margin per ounce of Gold Produced
Estimated Revenue per ounce of gold produced $1,200
All in costs to produce an ounce of gold -400
Projected Gross Profit Margin $ 800
We are confident that these numbers are conservative and give us a competitive advantage compared to other Nevada mining operations doing expensive deep excavations and moving massive amounts of marginal ore to expensive heap leach and other types of processing where their costs are $900 an ounce or higher.
Based on the above results the company has undertaken a systematic confirmation of gold content and currently owns Nevada mining claims covering 840 acres. Continuing sampling of adjoining lands are also being conducted.
About Gold & Silver Mining of Nevada, Inc.:
The company is in the business of precious metals mining and processing of massive gold and silver ore bodies in Nevada. The gold and silver located in the company owned mining claims in these districts are located adjacent to other known and established mining operators. The company is not looking for ore, but is in the process of developing previously identified ore bodies.
Safe Harbor Statement
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E and/or 27E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's suppliers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.
For more information please contact:Investor Relations at
801-679-3945
Visit the company web site at www.GoldandSilverMining.com
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