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2.0¢ niuminco group limited

Ann: Edie Creek Mine Operations Update, page-31

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Power10

341 Posts.

69

24/08/18

20:18

Post #: 35169317
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Originally posted by kickit2me ↑

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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summary for the week..

no earthquakes..

no cyclones..

no news on machinery breakdowns

all in all, a pretty good week.!!

hang in there... someone's bound to fall over a nugget or down a shaft filled with diamonds..

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