Kryso Resources4 Nov 2009 09:56
KYS: The Pakrut gold project, of which Kryso has 100% ownership, is situated in western Tajikistan approximately 112 km northeast of the capital city Dushanbe. Pakrut has total JORC Code-compliant gold resources of 1,984,272 oz Au (assuming a cut-off grade of 0.5g/t Au) and is located within the Tien Shan gold belt, which extends from Uzbekistan into Tajikistan, Kyrgyzstan and western China, and which hosts a number of multi-million ounce gold deposits. Drilling at Pakrut has previously returned numerous exciting intersections, including 123.7m at 6.14g/t Au, 42m at 11.17g/t Au and 50m at 5.67g/t Au. A bankable feasibility study for the Pakrut project is currently being undertaken by the Beijing General Research Institute of Mining & Metallurgy. The bankable feasibility study is targeted for completion before the end of 2009. An internal prefeasibility study completed in 2008 envisaged a mining operation at Pakrut producing in excess of 100,000oz Au per annum with cash costs of approximately US$300/oz Au.
Tajikistan is a secular republic located in Central Asia which hosts numerous operating precious metal mines as well as the largest aluminium smelter in Central Asia. Kryso's management team has extensive experience in the mining industry in Tajikistan.
SP has risen to around 8p over the last few months but is still worth buying on any dips before any further news. Once the results of the feasability study are out. 8p will seem cheap.