Ann: Presentation at Resource Stocks, page-12

The second header of this ann says it all
"Growing PNG Gold Producer & Explorer"

Some time back company played down to the ASX 5B Query 10-5-2017
boldly claiming and putting exclamations on “exploration” only
We further note that despite the Company having a mining operation, Niuminco is classified as an “exploration”

Then the second ASX 5B Query 8 February 2018
then we sprouted "pilot mining operations"
We note that in the June 2016 Quarter Niuminco’s Edie Creek mine achieved sales of $526,000 on volumes of only 13 tonnes per day, and that the Company has been progressively increasing its mining and processing capacity over the past 4 years, since recommencing "pilot mining operations"  in February 2014.

So management have "accelerated" to finally/boldly claim that we are no longer a pilot mining operation
as we have now advanced  to  a
"Growing PNG Gold Producer & Explorer"

@Dodgers

That $526,000 you quote is income from one month of operations in June 2016 at 13 tonnes per day
and averaging 22grams per tonne per day
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To further help fellow niuers with their calcs
Now  new productions is moving to the 40 to 60 tonnes with a working day structured around 11 hour days and the recent ann test run - two days with 5 hour shifts producing 20 tonnes each shift is proof their/our long awaited upgrade has arrived

The company also had a failed jorc where half the drill results where lost and final drill results only provided  approx. 10 grams per tonne for the Karuka/Enterprise drill program. SEE copy and paste snippet below>>>>>>


7 th December 2016
High Grade Gold Intercepts in Enterprise - ( "THE STARSHIP")
Despite using HQ drill rods and appropriate drilling techniques, the fractured ground and continuous, cavernous veins resulted in the Enterprise drilling yielding less than 50% core recovery of the oxidised veins and an inferred large gold loss.
However, the Company believes that the results from the drilling program indicate that the veins at the Enterprise system grade at 9-10g/t Au, and are continuous and cavernous over a 500m strike.

Both the surface and underground sampling referred to above, showed that the veins grade at 9- 10g/t, are continuous and cavernous. The Enterprise drilling also confirmed that the veins are continuous with high grade gold and silver intercepts, despite less than 50% core recovery.

FID