Equinox studying chance of new mill

Operating cash flow for Equinox Resources for the six months ended April 30 was $605,000 or 14} per share. Total exploration and capital expenditures were $2.9 million of which $402,000 was expended on exploration and new equipment at the Buckhorn mine.

Net earnings for the period totalled $106,327 or 2} per share and working capital was $648,000. Precious metals production from Buckhorn was 14,000 oz gold and 45,000 oz silver, 24% of which will accrue to Equinox.

Reserves at Buckhorn now total 1.2 million tons grading 0.05 oz gold. Significant low grade sulphide reserves exist on the property and pre-feasibility studies are trying to determine the viability of a new mill to treat this material.