Ann: Norton Gold Mine Joint Venture Executed, page-45

First up,sadly Sliced Bread I declined the invitation from the stunning long blonde haired,buxom young lady to be entertained in the club just across the road and as Jhsd will confirm I was on Fiet Coke as was aware it was Mantle paying some of the bar bill!

Q,Any reason for Carbine being here tonight when IK has previosuly mentioned them as a prospective processor of gold concentrate.

A, Purely coincidental,IK has been asked by organisers for a while and just happened to take up offer and it was then menttioned Carbine were going to be present as well.Must say I believe Ian,he comes across as a very measured and calculated man with great integrity

Q.Are we going to use the Wiggle(big Yellow box)

A,Probably not,not suited to this particular application,JHSD can confirm that they are/will be trialling a centrifugal sorter(?) called a Nelson or Falcon(any mining gurus can help with the name of this machine.

Providing the get the 1mn we will be mining within 3 months

Q.Why Norton

ALow cost,quick start up,no community issues(no bugger around) no native title etc

He emphasised the fact the where shears cross these areas are particulalry high grade and there are lots of little interesections where IK suspects that there will be grades up to 1 Oz/Tonne

Visible and thin shears,sorry to dissappoint Chainsaw but didnt get to ask about issue of rainfall but from that I am taking it that there will be narrow shears so no massive hole(to bury complaining shareholders and downrampers

If there is another CR he is looking to keep investing in equipment rather than just drill willy nilly .


Mining Development Licence almost complete at GC

Charter Towers $350 break even on project,they have also located some results from previous work that has not been included

NG,possible that this could be brought up to Jorc standard without any more drilling(presumably based on historical data)

BC-MNM not big enough to become a target,let the Gov deal with it but at ground level IK has been at Town hall type meetings and because a lot of Greens are more educated than the masses he has had the chance after meeting in one to one discussions to convince/convey how green BC can be

Josimar,will you visually select medium grade ore-YES

Now the killer punch,IK exxplained(not that he needed to) how there are 100s of mining exploration companies on ASX and that only a small percentage actually get something up and running and that CRs are a fact of life at this end of market and that GFC has buggered up market so that minnows that could easily attract money pre GFC now struggle BUt still the bills need to be paid.MNMs admin(IKs wage,accountants,upkeep of tenemnets etc etc) cost around 1MN a year.With just one sorter running ONE shift he anticiaptes that the income(this dickkead forgot to ask gross or net but I am assuming NET) would be 3MN and so 1MN for admin,1mn to buy another project and potentially 1mn for SHs.2 sorters(so 2 shifts) potentially double that