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(View this Fact Sheet as a PDF)
Business Description
Colorado Goldfields Inc. (OTC:BB CGFI), http://www.cologold.com, is a Denver-based junior exploration and mining company primarily exploring for gold and silver. Our seasoned management team targets historic gold camps with strong potential for multiple deposit discovery. Currently, our business model in Colorado provides an outstanding combination of former producing properties with excellent exploration and production potential and a currently inactive, modern 500 to 700 ton per day capacity mill facility to allow for an attractive short-term production time frame. We expect that this strategic plan will allow Colorado
Goldfields to reach its goal of profitability, potentially within the next 18 months.
Gold King Mine
The updated combined reserve and resource for the Gold King Mine is 406,000 oz of gold and 3.7 million oz of silver. Historic production of 345,000 oz of gold and 1.4 million oz of silver. The break even price for gold and silver are $412.05 and $7.50 respectively. |
Mogul Mine
Adjoining the Gold King Mine, the Mogul Mine is a high-grade zinc/lead/silver property. The site has limited past production, but potential to host a considerable tonnage of base metal ore. Historic grade of 6.5% zinc, 4% lead, 0.75% copper, 4 ounces/ton silver and varying gold content. |
Mayflower Mine
Historic production of 520,000 oz gold, 12.3 million ounces of silver and significant base metal production from 1929- 1953. Exploration on the property in the 1980s confirmed ore grade continuity below main haulage level. |
Pride of the West Mill
A modern gravity and flotation mill with up to-700 tons per day capacity. It is located within nine miles of all three CGFI mines. and is the only mill in the area. Toll milling for neighboring mines provides an additional revenue stream and the opportunity for future joint venture or acquisition opportunities. |
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Jul 2008 – Feb 2009
Surface drilling
7th level rehabilitation
NI 43-101 report |
Feb 2009 – Nov 2009
Underground Drilling
New Workings
Full Mine Permit |
Feb 2009 – Nov 2009
Underground Drilling
New Workings
Full Mine Permit |
May 2010 – Dec 2010
Mill Rehabilitation
Mill Reactivation
* Begin Production * |
Management Team
Lee R. Rice, Interim President & CEO
C. Stephen Guyer CFO
John Ferguson Director, Operations
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Debbie Cokes Environmental Affairs
Brad Long Investor Relations
blong@cologold.com
1-866-579-2434 |
Company Information
Symbol / Market: CGFI / OTC:BB
Shares authorized: 1,185 M
Shares outstanding: 103 M
Assets: $16.6 M+ (market value)
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Market Cap: $10.7 M
Average volume (3m): 189,492
Share Price: $0.11 |
Financials
Revenue: FY08 - $0
FY09 – $2M,, Gross Margin: 31%
FY10 - $10M Gross Margin: 37%
FY11 - $22M, Gross Margin: 45%
FY12 - $36M, Gross Margin: 49%
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This press release contains forward-looking statements within the meaning of United States Section 27A of the Securities Act of 1933 as amended, and Section 21E of the Securities Exchange Act of 1934 as amended. Investors are cautioned that these forward-looking statements involve uncertainties and risks that could cause actual performance and results of operations to differ materially from those anticipated by these statements. These risks and uncertainties include issues related to the ability to: obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new opportunities, and the unpredictable nature of business risks; as well as other factors set forth in the Company's most recently filed SEC reports. The forward looking statements contained herein represent the Company's judgment as of the date of this release and it cautions readers not to place undue reliance on such statements. The Company assumes no obligation to update the statements contained in this release. |
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