LETTERS TO THE EDITOR Black Swan deserves better

I note you published an article entitled “Black Swan Running In Red” (T.N.M., March 4/91). While I cannot argue with the facts which you set out in the article, I strongly disagree with your interpretation of these facts. I believe the story should have emphasized that Black Swan has brought a second gold mine on stream on time and on budget at a total capital cost of only $3.1 million, of which $800,000 was in partial payment of a purchase price of $1.8 million and more than $500,000 was in preproduction stripping of the open pit area.

I think it is a rare event for a Vancouver-based company to have two gold mines in production and to be producing gold at a rate of 35,000 oz. per year when the entire capital raised by the company through its 6-year life is only $10 million. I believe Black Swan’s achievements are worthy of more than “Black Swan Running in Red.” Arthur T. Fisher President Black Swan Gold Mines Vancouver