NIU 0.00% 2.0¢ niuminco group limited

Ann: Edie Creek Mine Operations Update, page-28

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  1. 13,626 Posts.
    lightbulb Created with Sketch. 4845
    I'm sure we are all aware of that. This is, after all, a company with a MC of 2.6m at present. If I wanted them to spend a couple of years of my money to get a JORC together I'd be investing elsewhere.

    This from the December 2017 Quarterly:

    A total of only 62 wet tonnes of ore was processed at an average grade of 15.1 grams per processed tonne of ore.

    15.1g/t

    I'm sure we don't expect that grade all the time. But grades processed while the mill has been operative have probably averaged around 10g/t - so its not hard to think they can process ore with grades averaging over 2 or 3g/t is it?

    I don't think the issue here is the presence of high grade ore. Its simply getting the plant running consistently at reasonable tonnages to start bringing in the $.
 
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