A wise, major project manager once said to me:9 times out of...

A wise, major project manager once said to me:

9 times out of ten when it comes to Budget, Schedule and Quality you can have any 2 and only 2.

Over the years I have worked on a number of large projects upwards of half a billon dollars and this generally runs true

So if we take this principle and put it to NTL I think it runs true.

Through photos posted on the various forums and info out there the work done dose look to a good quality

We all know there is always budget restraints on a project like this with a shoe string budget. Until it is producing you have to go to share holders cap in hand and conduct SPP’s, so aside from Directors salarys, (lets not go there) sticking to budgets is very important.

This then leaves the schedule very open ended with our company only in control of certain things the schedule is always going to suffer.

The Pilot plant

Phase 1 of the test work has been successfully completed. As far as i can see this has been done in a structured way and Gold and precious metals recovery rates achieved are looking good. We now have a line in the sand and something to work from or something others can study and work from.

To blindly start processing would be a complete waste of time, resources and our all important budget.
The key objective of the Pilot plant is to test, tune and retest so we know what we have, how best to get it, where it is and what quantity’s we have.
Now we have have some knowns the design of a bigger plant or using someone else’s can procced.

IMHO Producing concentrate is not an issue the delays are in the testing and receiving results. Not having access to all the equipment to separate gold silver etc. They probably could have poured a nice shiny bar of gold by now but what has that achieved?

There are many things to consider and from what I see and read the approach they are taking is the long term one.

Phase 2 of the metallurgical test work which aims to gather data on the plant outputs sufficient to meet council requirements for aresource consent for a larger volume plant, has commenced. The sampling from processing small quantities of various ore grades will ensure sufficient sample size for ore treatment data to be collected and included as part of final plant application. The whole resource consent process is painful here in NZ and something that requires care and attention to detail, stuff this up and its over before it begins.

IMO once all the testing is completed things should start moving ahead quite quickly – Resource consent, full scale plant or offloading ore / concentrate to others for processing.
The mine is not stagnant and things are happening be it slowly they are happening. I see exciting times ahead it just may not be as fast as you hopped.

I believe mid next year after the bonus shares are issued we’ll see the share price dip then start to come good as the ducks start aligning – POG, Resource consent, Test work completed, solid plan to production other possible commercial agreements.