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Message: Confirmation of Mine?

Re: Confirmation of Mine?

posted on Mar 15, 2008 03:56PM

It depend on what you mean by this. If you mean a resource estimate for DE-1 I expect that they will wait until the end of the winter/spring drilling so that they have had a chance to test the majority of high priority targets and to drill off any targets that the 'HIT'. I can't see any real advantage for the company to release a 43-101 resource estimate early on DE-1. With lots of money in hand the more information that goes into the DE-1 the better. They also gain strategically by being able to discouage all but the most aggressive fromlaunching an early takeover bid.

If you mean when will the company be able to state that they have a viable mine that will require a 43-101 RESERVE Estimate and then a 43 101 Bankable or Definitive Feasibility Study (DFS). The DFS is the independent proof that a company needs to be able to state that they have the makings of an economicaly viable mine could be built given everything that is known about the reserves, costs, prices etc.

If someone else HITS a deposit when drilling one of their anomalies that would be taken into account in the DFS for NOT as it influences infrastructure costs to the area etc. If the new discovery was on NOT's property, a JV or by a company amicable to a merger/take over by NOT that too would influence the economics and would be considered once a 43-101 resource estimate was published for it.

If you are looking for something more specific send me a pm and I'll get back to you.

.... Been There

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