Gemini Exploration (GXPI.OB) is a mining exploration and development company focused on acquiring, developing, and maximizing natural resource properties. The company is currently working on two mining properties in Colombia, South America, which have underdeveloped gold mines.
Gemini has an 80 percent share in La Tapata, located in Colombia’s El Bagre-Zargosa mining district. The property has a low percentage of gold resulting from the out-of-date equipment currently at the location. Gemini has prepared estimates on costs related to maximizing the property.
The initial estimates total just above $1.9 million. The outlay to modernize the facility would make the difference between the historical low-percentage results versus moving to a more efficient high-percentage result.
Exploration results at La Tapata show a potential $2000 gross net value per tonne. Based upon these estimates, the production level for the first year after modernization is roughly around 26,000 tons, which equates to $52 million. Once the basic process is optimized, the second year production level is estimated around 45,000 tons which equates to $90 million. The third year projection is roughly 55,000 tons, equaling $110 million.
The potential production levels at the site are tremendous. Based upon the numbers provided by the company, the modernization of La Tapata would launch Gemini to the next level.
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