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  • News Chief Executive Officer and founder Robert Friedland said today that the recent start of pre-stripping of the open-pit that will mine the gold-rich Southern Oyu and Central Oyu deposits serves to underscore the early gold production potential of the company's Oyu Tolgoi Project in southern Mongolia.

  • A ground-breaking ceremony for the open pit was held to officially mark the commencement of pre-stripping operations.

  • The first is, on the income statement, there is about $11 expense for pre-development costs, this relates to Rochester pre-stripping activities.

  • Operating cash flow was negative $2.3 million which is a reflection of the fact that all pre-stripping costs related to the expansion at Rochester are expensed rather than capitalized.

  • And that includes, Andrew, just to be clear, back to the expense versus capitalized account that, pre-stripping cost that we are expecting at $30 million.

  • Lornex has slightly lower copper grades than the remaining reserves in the Valley pit, and is anticipated to provide 30% of the feed to the mill after pre-stripping is complete in 2013.

  • The product terminates 18 through 24AWG solid and stranded wire utilizing insulation displacement technology to eliminate the labor-intensive task of pre-stripping wires and soldering.

    Engineering Hardware-Software

  • In addition the second quarter 2010 included lower amortization of pit 3 pre-stripping costs than the comparative quarter of 2009.

    Latest News from SYS-CON MEDIA

  • In addition the first half of 2010 included lower amortization of pit 3 pre-stripping costs than the first half of 2009.

    Marketwire - Breaking News Releases

  • Onsite costs include mining costs (including all pre-stripping costs), equipment operating lease costs, mill costs, mine site general and administration costs, environmental costs and royalties.

    The Earth Times Online Newspaper


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