HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Message: B&M

Re: lowest cost producer

posted on Jul 31, 2008 06:14PM

I know I shouldn't answer you but from the way you answer me I will only tell you that the kind of DD you are involved in is your own and no experts DD, it is a difference. Google as much as you want, but without any hands on actual experience you still only scratch the surface and you only learn what you want to learn.

Just to give you an example, you will never ever be allowed to build a concentrator only(as you claim). Try to google: acid mine drainage, sulfide tailings, water treament, water flow studies for a tailings dam, cost of tailings dam etc. The picture changes dramatically.

Actually my biggest concern technically is where and how to build a tailings dam. This depends on the ground conditions and the topography of the area, in addition immense amounts of water flow studies have to be carried out before you get any permit to build one of those. These things an't be allowed to fail. Partly because of all these environmental issues, costs will go up, and in the long run it serves us and the industry well.

In fact there are small groups of people calling themselves environmentalists who promote themselves over the internet to all small communities where potential mining will take place. These so-called environmentalists will contact the local people and help them fight any new developments. All these issues together add a lot to the DD for the mining companies and add costs.

There is just no easy and quick fix to mine developments (at least not in the Western World)

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