Question-and-Answer Session
Operator
(Operator instructions). And our first question comes from the line of Anthony Sorrentino with Sorrentino Metals. Please proceed.
Anthony Sorrentino – Sorrentino Metals
Hello everyone.
Phil Baker
Hi Tony.
Anthony Sorrentino – Sorrentino Metals
What would you project capital spending to be for all of 2009?
Phil Baker
I will let Jim answer that question.
Jim Sabala
Yes, for the entire year Anthony, it’s projected to be in about the $32 million to $33 million level.
Anthony Sorrentino – Sorrentino Metals
Okay. And would you give a breakdown of that by property?
Jim Sabala
I don’t have that, Anthony, right at my finger tips. So I believe it’s about $15 million at the Lucky Friday and the balance at Greens Creek.
Anthony Sorrentino – Sorrentino Metals
Okay. And what options are you considering to access levels below the current working areas of Lucky Friday.
Phil Baker
Well, why don’t I ask Ron to talk about that? Ron you might give some background as to where we are now and where we’re currently projected to go.
Ron Clayton
The current mine plan that we are working under right now it’s – it goes up to 2,015 and gets down to roughly at the 6,200 level. That mine plan is based on continuing ramps below 59. From thereon, we have looked at a number of different options that range anything from trying to sink a winds from that rough elevation down to as deep as 8,000. We are looking at a number of other options including ramps, conveyer ramps, those kinds of things, and just looking at the tradeoffs between capital and operating cost.
Phil Baker
Yes, it’s a – Anthony it’s a high class problem to have the material below us increasing in value, it looks like might be increasing in value dramatically.
Ron Clayton
Yes, it’s a lot of options for us. Good ahead.
Jim Sabala
And Anthony as a follow-up, it’s $11 million at the Lucky Friday and the balance of the number I gave you is at Greens Creek.
Anthony Sorrentino – Sorrentino Metals
Okay, very good. And – and like you said, that is a good, good problem to have that as you go down deeper when in most cases your cost to mine would become more expensive, it’s going to be more than justified by the higher grades and the increased width of the ore.
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