Time right to reopen B.C. mine - March 23, 2003

Providing coverage of Alaska and northern Canada's oil and gas industryMarch 2003

Vol. 8, No. 12

Week of March 23, 2003

Time right to reopen B.C. mine

Gary Park, PNA Canadian correspondent

Cusac Gold Mines Ltd., a family-run Vancouver mining junior, is part way towards raising C$3.5 million to reopen the Table Mountain gold mine about 60 miles south of the Yukon-British Columbia border.

The mine closed in 1997 amid weak gold prices after producing 270,000 ounces over 17 years, but mine manager Dan Brett said a profit is possible if gold prices average US$325 an ounce.

So far, Cusac has raised C$500,000 and needs another C$3 million to resume operations. Provided it can find an investor, the company estimates it could produced a gross profit of US$4 million a year.

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