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Forbes Finance & Investment Corp. (FFIC), of Panama,
in conjunction with its banking and investment advisors and affiliates,
offer several financial transaction services for their clients such
as discounting financial documents, capital appreciation & asset
protection, as well as cash management & investing for both short
and long-term.
The investment programs offer significantly higher
rates of return than do the more typically conventional programs.
These programs require a minimum cash investment of $10 million
and can produce monthly returns of up to 10 %. The clientÍs principal
remains untouched during the entire time of the programÍs duration
and is under the safekeeping custody of reputable investment companies
such as Prudential and Merrill Lynch.
For those with significantly greater amounts to
invest, a program involving the Federal Reserve is available to
qualified investors. The program requires a minimum cash investment
of $250 million and a commitment of the principal for a period of
approximately one year. The up-to 5% weekly returns available under
this program can result in a Return-On-Investment exceeding the
amount of the original principal invested.
All of these programs are custom tailored to the
investorÍs needs and as such, the actual investment returns will
vary from one program to another. A guaranteed minimum amount will
be contracted for at the outset of the program based on the amount
invested and the particular terms and conditions of the program.
In addition, FFIC can offer other support services
where necessary to assist those investors holding non-liquid assets,
such as gold, precious gems, unencumbered real estate, etc., to
meet the requirements of a suitable cash-based investment program.
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| FFIC
Mining Outlook |
Holy
I & II, Punta de Talca mining and outlook
for 2006
We will work in close partnership with the contract
mining company in all three mines. During 2005,
exploration and survey was carried out and the
results confirming and augmenting previous explorations
and survey. |
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| HOLY
I & II PROJECT |
The
Holy I & II Mines have an estimated potential calculated
being considered a 400 x 300 m hydrothermal alteration area
associated to highly anomalous gold mineralization, registering
values up to 157 gr/ton Au in rock sampling. The exploration
studies were carried out by Princeton Mining Corporation of
Canada.
Princeton estimated for this area a mineralized depth of 100
m, with 2.5 rock density and an approximated 2.0 gr/ton gold
value.
In accordance with the enclosed Princeton Mining survey, this
area is mineralized to a depth of 100 m, and represents 30 million
tons with an estimated grade of 2.0 gr/ton Au, equivalent to
1.929.000 Oz Au with smaller tonnage contents of high grade
ore. |
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30.000.000 tons x 2 gr/ton Au = 60.000.000 grs Au.
60.000.000 grs Au : 31.1 = 1.929.000 Oz Au.
Security factor = 80 % = 1.500.000 Oz Au.
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Princeton Mining
also carried out a core drilling campaign that carried out 11
percussion drill holes whose results are presented in the enclosed
Princeton geological reports.
In October 2000, Hermes Soto A, Senior Geologist, visited the
Holy mining properties and it could verify the existence of
quartz veins with gold mineralization, some with small exploitation
works with 30 gr/ton approximated grade. |
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| PUNTA
DE TALCA PROJECT |
| During March
and April, 1999, Hermes Soto A., Senior geologist, carried out
geological studies in the mining district of Punta de Talca
with the purpose of projecting future exploration campaign in
the district. This campaign was not carried out due to low prices
of gold in the world markets. From
these carried out studies, it was concluded that the auriferous
district of Punta de Talca presented excellent geological
conditions to host numerous high grade gold and silver veins,
even not discovered, and that it deserved to be explored in
order to increase its present measured economic potential.
In that time, the “measured or proved” economic
potential, was the following: |
Well-known veins (tension
fracture associated)
11.0 gr/ton Au |
400.000
tons |
Metalera and Mónica
veins (regional faults)
1.5 gr/ton Au
|
2.250.000
tons |
Tailings
0.8 gr/ton Au |
845.000
tons |
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| Later studies carried
out by Hermes Soto in 2003, considering that the gold is preferably
coarse, that the atomic absorption chemical analyses used at
that time were not the appropriate, also considering that the
tailings sampling was superficial and not in depth, the economic
potential has been corrected, being the following : |
MEASURED
OR PROVED ORE RESERVES |
Well-known
veins
218.650 Oz Au |
400.000 tons |
17.0 gr/ton Au |
6.800.000 gr Au |
Metalera
and
201.000 Oz Au
Mónica veins |
2.500.000
tons |
2.5 gr/ton
Au |
6.250.000 gr Au |
Tailings
80.400 Oz Au |
1.000.000 tons |
2.5 gr/ton Au |
2.500.000 gr Au |
| Total measured
or proved potencia: |
500.000
Oz Au
|
3.900.000
tons |
4.0 gr/ton
Au |
15.500.000 gr Au |
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PROBABLE
OR INDICATED ORE RESERVES |
New veins
656.000 Oz Au |
1.200.000 tons |
17.0 gr/ton Au |
20.400.000 gr Au |
Metalera
and
289.400 Oz au |
3.000.000
tons |
3.0 gr/ton
Au |
9.000.000 gr Au |
Mónica
veins (sulfide zone
below the phreatic level). |
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| Total Probable |
| 945.400
Oz Au |
4.200.000
tons |
7.0 gr/ton
Au |
29.400.000 gr Au |
|
TOTAL
PROVEN + INFERRED ORE RESERVES = 1.445.000 Oz Au |
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| Holy
I & II are expected to be among lowest-cost producers in
the world. For 2006-7, Forbes expects Holy to ramp up to an
annual production of 210,000 ounces of gold at a $50 to $60
per ounce cash cost. The gold deposits are high-grade, primarily
underground, with high silver content and good metallurgy. The
process design is efficient in capital and operating costs,
and the operating team is well-trained and capable. Finally,
we have developed a professional working relationship with the
community of Antofagasta and the government of Chile and look
forward to a long and prosperous partnership with the people
in Region II of the Republic of Chile. |
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| MINING
METHOD |
The
Holy mine is divided into two main areas – Holy I and
Holy II, which are long vein structures. The Bench and Fill
method will be the primary underground mining method at Holy.
Bench and Fill consists in mining 10 meter to 20 meter high
slices, with bench drilling and blasting. 
First, two levels are driven through the vein to define a 3.5-meter-wide
drift that is extracted in two stages if the vein is less than
2.0 meters wide and in one stage if the vein is wider than 2.0
meters. Once these levels are built, the lower one is used for
extraction and the upper one for drilling blast holes. The extraction
is done in reverse sense using 6-yard control remote operated
scoops (LHD) to minimize risk to personnel. The scoops dump
in ore passes located outside the stope, towards the haulage
level. Once mined, the chamber is backfilled from a drilling
level using teledump type trucks.
The access to the stopes is through a ramp located in the hanging
wall, so that there are crosscuts to the vein defined by the
height of the bench. This ramp will be centered with respect
to the stopes in order to allow an adequate access to the different
levels of the stope. |
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| BENCH
& FILL |
The
advantages of Bench and Fill include:
• Higher productivity
per exploitation unit, due to bench blasting and operations
with longer and more continuous cycles.
• Lower exploitation
cost (between 25 and 35 US $/t).
• More reserves
can be economically mined by lowering the cut-off grade and
enabling higher recovery of the resource.
• Less
expenses in rock support (higher levels).
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| ENHANCING
DILUTION CONTROL |
| Forbes
Mining has seen great success in improving dilution control
and expects similar dilution control in Holy I & II when
they begin commercial production in 2006. A thorough knowledge
of the geology and ore body combined with modified drilling
and blasting and enhanced fortification will continuously reduced
dilution. |
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| Reducing
dilution at Holy I & II and Punta de Talca will increased
the grade and decreased the tonnage, enabling Forbes Mining
to produce the same ounces with fewer tons, reduce costs, increase
capacity at the mill, and operate with more flexibility. |
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[USA] [Brasil]
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This web site is for informational
purposes only and is not an offer to sell or a solicitation to buy
any security or any insurance product. Not all of the products or
services described herein are available in all jurisdictions or to
all potential customers or investors, and nothing herein is intended
as an offer or solicitation in any jurisdiction or to any potential
customer or investor where such offer or sale is not qualified or
exempt from regulation. The Forbes Group Companies undertake no obligation
to maintain or ensure that the material contained herein is the most
current available. The Forbes Group Companies disclaim liability for
errors or omissions in this content.
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email:
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