The Pride of the West Mill is a modern gravity, flotation and cyanide leach mill located on 120 acres, with offices, laboratory and water rights. The Mill has the capacity to refine up to 700 short tons per day. The Brooklyn and King Solomon mines are all within a nine-mile radius of the Pride of the West Mill with good roads connecting the mines to the mill.
Colorado Goldfields acquired the Pride of the West Mill for $900,000 and the assumption of $300,000 in reclamation permit bond requirements. The mill was valued over $12M. Historically, milling operations in Southwestern Colorado similar in scope to the Pride of the West Mill have generated from $5 million to $15 million annual gross revenue and typically are profitable in the first year of operations
Re-activating the assay lab at the mill includes the installation of an electronic microbalance for weighing the doré (semi-purified gold), beads derived from the fire assay and the gold bead remaining after the silver in the doré is dissolved, and an inductively coupled plasma atomic absorption spectrographic machine.
"Mining companies are facing unacceptable delays in getting assay results, sometimes as long as 60 days. Operating our own lab and offering those services to neighboring mines is a bonus to our clients and gives a boost to the bottom line." - C. Stephen Guyer, CFO for Colorado Goldfields.