Minerex is the operating partner and 50% owner of the small heap leach mine in Mineral County. Electra North West Resources (VSE) holds the remaining interest.
Last year the mine produced 18,037 oz gold and 21,714 oz silver. Cash costs for the 9-month reporting period ended Feb 28 were about $263(US) per oz while the average selling price of gold was $440 per oz. Minerex reported net earnings for the period of $817,286(C) or 8 cents per share.
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