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Minefinders Releases Pre-Feasibility on La Bolsa Project
Minefinders Corporation Ltd. (NYSE Amex: MFN, TSX: MFL) reported July 7, 2010, completion of a Pre-Feasibility study for its La Bolsa gold and silver project, located south of the Arizona-Mexico border, about 30 kilometers west of Nogales, Mexico. The La Bolsa is estimated to produce 227,600 ounces of gold and 315,100 ounces of silver over a six-year mine life. The project is anticipated to process 8,500 tpd, with an initial capital cost of $31.4 million, resulting in an estimated NPV (0% discount – pre-tax) of $132.2 million at spot prices. We visited the La Bolsa project in June of 2009 and believed it to have very good potential to become a profitable, low-cost, low-risk, heap leach gold operation.
