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 $.
NIU Price at posting:
0.1¢ Sentiment: Buy Disclosure: Held