Metals fights Homestake

Major owners: * North American Metals (50%), Chevron Canada Resources (50%) Commodity: * gold Discovery date: * 1985 Production decision: * August, 1987 Start-up: * fourth quarter, 1988 Capital costs: * $36 million Operating costs: * $136 (US) per oz of gold Reserves: * 2.3 million tons grading 0.27 oz gold per ton Means of access: * open pit and adit Extent of vertical workings: * 328 ft from oxide cap to adit level Mining methods: * open pit and panel cut-and-fill Mining equipment: * trackless Production rate: * 71,500 tons per year (open pit); 55,000-66,000 tons per year (underground); daily milling at 396 tons Milling plans: * on-site