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02:47
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Originally posted by happybear45:
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There is much speculation in that, specifically about the Reid-Rankins/Birthday "sister deposit" totaling 300-400K ounces of gold. Most of the mineralization they have found in the very limited drill holes in the area is 50m from the surface and nearly all the drill depths as such are not deep. I suspect the actual deposit is much deeper in a second layer of mineralization about 150-200m down. The old timers saw that the mineralization ended pretty quickly and just assumed it was the end of it. Then they saw Mt Boppy and assumptions built upon assumptions."Unless Silver price significantly increases in the next 6 months, Manuka is finished as a going concern." "and is banking a $30 silver price already for the silver stockpile processing" "Mining vergin dirt from the Wonawita pit has a significantly higher cost profile, as well as much lower grades. Under current price, it's not economic" Well the higher grade of the stuff they will be mining (100g/t vs 70g/t in stockpile) makes up for the extra cost of mining. Check their costs on the gold operation that is ~150KM from their plant and you can see that it should cover it. But it should be cheaper than their gold operation anyhow."This stock is a total gamble...it's all speculation with this one!"
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Well, I disagree. I believe, you are making huge, unwarranted, speculative leaps of faith on the geology front. And, as I said, the pit wall will have to be stripped back to go deeper, the pit is too narrow at the bottom bench to allow any sustained, safe, deeper mining of the open pit. A huge cost for minimal return, with a strip ratio 3 exceeding 7:1, IF there is any significant mineralisation. As for underground mining via a decline...not going to happen in that type of ground, the development cost, complexity and ground support required in such geology would be cost-prohibitive, for little gain.
