Re: I Don't Get It!
posted on
Sep 03, 2008 11:45AM
Producing Mines and "state-of-the-art" Mill
So Ex Sudbury Guy, if you have all your concerns why do you invest in us. You made money once. Maybe just maybe we might just succeed is that it.
Our reserves started with the Redstone Mine Jul 11, 2007
Measured 274,000 tons @ 2.64 % Ni
Indicated 145,000 tons @ 1.7% Ni
Inferred 148,000 tons @ 3.44% Ni
Total 567,000 tons @ 2.61% Ni
McWatters Technical Report dated 13 May 2008
Indicated 665,308 tons @ 0.72% Ni (Upper)
Indicated 49,562 tons @ 3.93% Ni (Lower)
Inferred Massive Zone (Lower) 13,829 tons @ 3.39% Ni
The total probable mineral reserve for the McWatters deposit is 596,800 tonnes at an average grade of 0.93% Ni
Hart Technical Report dated 7 Aug 2008
Total Indicated 1,390,000 tonnes @ 1.50 % Ni
Total Inferred 286,000 tonnes @ 1.36 % Ni
(Hart resource came from basically 1 year of intensive drilling and once permit is in place can be advanced to production after McWatters).
Our Mill has been updated to allow for 1500 tpd ore now and can be updated to handle more.
Although McWatters has been delayed the mill and Redstone were brought on in a timely manner.
Yes we have burned through more money then originally planned but we are not unique to the industry.
In two weeks time we reach preproduction that is what my mind focuses on. As far as other resources go. Hart proved in my mind that we can grow our resources. We have not even heard about this year and it was severely curtailed to save money. Results will be coming in on the Sothnam project and we have not heard anything about the grass roots projects.
We also have not talked about Groves or McAra.
As far as not many people on the board. Oh well. Not many post right now. Many companies boards are dead as well. Others are doing well.