quite... thinking you were right............i cross-checked through the info for my own satisfaction.
From the 2009 M&A...'The Company has expectation of completing a test pit for the newly discovered 007 zone.'
What's this....a pit once they get there from the Hinge..........isn't 'pit' usually a description for something eminating from surafce? Or just another word for bulk sample.
Significant projects completed during the quarter and year to date and recorded in capital include:
• Developing permanent mine openings and development drifts at the Hinge mine and Rice Lake mines
• Upgrades to computer network, mine planning software and internet connectivity to T1 level for minesite
• Ventilation raise and heaters at the Hinge mine
• Completion of power distribution upgrade
10
• Development of brand new core handling facility
• Acquisition of various equipment including 1 boom jumbo, longhole drill buggy and scoop
• Completion of 67 man camp commissioning bringing total capacity of camp to 180 beds
• Implementation of new ERP system – went live on schedule, November 1
• Development of new recreation hall for miners
• Upgrades to power distribution System
The Company is planning for continued incremental underground development, and continued incremental investment in equipment. The Company has expectation of completing a test pit for the newly discovered 007 zone. The flow through financing completed in the subsequent period will be used to fund much of this activity. Discoveries at the Cohiba zone and L-13 are focusing planning activity at those opportunities. The Company is currently driving a new escapeway raise from Rice Lake and is expecting a vent raise for 007 in or about Q3 of the coming year. The Company is also planning further enhancements to the transformer and electrical capacities of its physical plant. The Company has completed the implementation of an ERP system for enhanced control, maintenance planning functionality and operational reporting. Funding for known items has been obtained and is currently invested in short term, minimum risk securities described in Note 3 – Marketable Securities – in the Company’s annual audited financial statements.
