Pity the asx doesn't find mainipulators all over the place instead of annoying us.
Only need 80gm per day-too easy!
1. Does NIU expect that it will continue to have negative operating cash flows for the
time being and, if not, why not?
The Company advises that it may have negative operating cash flows until such time as
its Edie Creek Mine consistently processes sufficient vein material volumes and grades
to produce a current break-even level of approximately 80g of gold per day at
current gold prices and exchange rates.
As reported in the September Quarterly Activities Report and in other recent ASX
announcements to the market, with the upgrades to the processing circuit now
completed and additions to the mining fleet, there have been significant increases in
processing throughput in recent months, which are expected to continue during the
current quarter.
Both current and future cash flows are dependent on the quantity and grade of vein
material mined and processed at the Company’s Edie Creek Mine. As previously
advised, in the June 2016 Quarter Niuminco’s Edie Creek mine achieved sales of
$526,000 on volumes of only 13 tonnes per day. The Company has now significantly
increased its mining and processing capacity to up to 50 tonnes per day, and therefore
the potential for consistently increased gold and silver sales levels going forward
NIU Price at posting:
0.2¢ Sentiment: Hold Disclosure: Held
