“This limited mining and processing resulted in 80.1tonnes of wet material being processed at an average gold grade of 5.96g/t, producing 477.5 grams of gold and 274.75 grams of silver. This, along with proceeds from equipment hire, resulted in sales of $43,700 (K102,581) during the quarter.”
Why did they only do limited mining? What were the workers going in the quarter? Surly they didn’t use that time on exploration. They should of been able to do huge amounts of volume. The average grade is high; what happened to the 60- 80 tones a day? Seems like something is astray. Mining is never easy especially in a country like PNG. But this is really strange.
NIU Price at posting:
0.1¢ Sentiment: None Disclosure: Not Held
