Re: NEWS PREP
in response to
by
posted on
Oct 18, 2010 01:10PM
Producing Mines and "state-of-the-art" Mill
Mikey, it is strange - it cost about 18 million to bring McWatters along. It shows whenever you think of investing into an expooration you need to think about what the adjacent producing company spent to bring on their own mine site before you read about what an exploration company thinks they have in their mine and what they expect to get. We are lucky with our properties because doing our own exploration we just have our smelter royalties we have to pay back. Having a chunk of land we do not have to be held ransom to buy another companies properties. I find it sad that posters from other properties read another companies financials and out of desperation post whatever negative thing they can find. The Chinese have invested 51% into our company and rather then cause dilution and conversions they granted us a line of credit when we first started up. Lbe has been honest with us and told us about the lower grade in the high grade zone which affects about 10% of the deposit. Our drill holes are about 12 1/2 metres apart. It was found out that the ore body was blocky. So far they have been through 5 levels and the mineralization was very close to the SRK proposal. Currently we have been removing the halo which is the low grade mineralization of the open pit. We are currently days or weeks away from 2 1/2 times the grade which is .7 or .9 % ni. That is when we do the sub level caving. Things are advancing.