Re: Response from Noront -Investor Relations -MD&A now posted on Website
posted on
Jan 22, 2009 12:24PM
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)
The response is about what I'd have expected, not what I'd like but what I've come to expect.
I do however take issue with their 'timetable'
a. Get core – 1 day
b. Log core – 1 day
c. Sample core – two days
d. Send to assay lab – one week
e. Await assays – six weeks
f. Check QA/QC data – two days
g. Re-assay if necessary – six weeks
h. Check assays against drill core – five days
i. Re-sample if necessary – two days + one week + six weeks
j. Compile assays – 1 day
k. Do this 10 times – somewhere between 55 days and 110 days
l. Write a press release – two days
m. Send press release around for edits and approvals – three days
n. Release Press release – one hour
Take 11 days for assays to reach lab.
Now they say 42 days for assays WHEN money was paid up front to speed assays for nickel and the lab isn't overworked right now either SHOULD be less.
Now 5 days check assays, 1 day compile because resampling and reassaying should NOT be common requirement unless someone is not doing a proper job.
Total 59 days plus 5 days to get press release out AND if lab is on it's toes knock at least 10 days off.
So add in time to do 15 cores and at most we should be waiting 2 1/2 months for decent and timely report on exploration for nickel (1 drill).