Yes I do like Gold, no doubt about it, I just like Silver more at this stage in the cycle.
No I'm not a Iggys old boy.
I have many friends in PNG
I have been too PNG many times, I am involved with a couple of companies up there.
One of which, I am a major share holder in, is a Limestone Quarry, Niwasa Ltd, between Harmony Gold mine and the Wafi Goulpu deposit about 70 odd KM from Lae, Not far from Eddie Creek near Bulolo. So I know this area well, and one reason I watch this stock.
We are trying to JV a deal up there to put in a large kiln and produce Quicklime, of which PNG currently imports 100%, when Wafi finally comes on line, we think it will work.
We have our own mining camp and infrastructure, similar to what NIU have by the looks.
PNG is not Australia, Lae is has potholes as big as a small car. This is a third world country.
Eddie Creek is a long way from anywhere. PNG is a difficult place to work in at the best of times. Right now, It is far from the Best of times up there, So Extremely difficult place to work in right now.
I could tell you some stories of the things I have seen up there that would blow your mind.
As long as NIU have a decent mechanic and spares onsite, no reason this equipment won't last for many years, but this will take good management, something quite rare in PNG!
My best mate has a similar one in Sogeri, been running fine for many years.
I would think that a generator would be the least of these guys problems.
We shall seen how they go over the next few quarters?
One thing I know for sure, and it is historical fact, this area is LOADED with GOLD!
At one stage in history, there was more airfreight going into and out of this area, than the entire rest of the worlds combined airfreight, that is a fact, I will have to check the year.
Good Luck to all
I hope NIU goes off as much as you do, I want to sell you the Limestone!
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