383hq
Mate I suspect the relevant information we all require, to take place will be through mining.
Is there a single person on here who has any faith in the ASX engineered JORC process. The latest JORC was 60% above the August 18, 2010 JORC and very little extra drilling was included in that report, certainly not enough extra drilling to account for a 60% increase in contained metal.
Nev's report clearly shows representation on the JORC board of members of many large mining houses. That clearly is a conflict of interest as these people have the ability to read the drill reports and do their own in house evaluation of any economic mineral deposit. A report that undervalues a deposit is of great interest to large mining houses as most of their business is made up of gobbling up deposits before their value is established.
To any long term holder and reader of Nev's reports it is obvious that share price and value have no connection. The share market has become a gambling casino. The game is differential in price, it does not matter which direction it is going.
Any person who has been watching the share graph for months should have noticed the establishment of a higher price in the early morning then a steady decline towards end of trading. Someone has constantly been creaming off a minimum of 2 cents a share day after day after day.
The way the share price was worked down into the 1.3 range. Someone made a fortune shorting this stock.
Lets look at the tools the big guys are using according to the CDU report.
Naked short selling.
Short selling on market and covering off market.
Wash trades.
Control of up and down ticks. Firms possibly taking turns to have control.
There is mention in the CDU report that, within the market computerised system a possibility of brokerage houses being able to directly communicate within an ongoing auction process.
So somehow you believe an upgraded JORC will help! My belief is the only thing that will help is what comes out of the mineral process plant and the cheques that we will all receive provided that in two years we are still shareholders.
3MTa multiplied by 3% is 90,000
4% is 120,000
5% is 150,000
6% is 180,000
4.5MTa multiplied by 3% is 135,000
4% is180,000
5% is 225,000
6% is 270,000
We actually don't know what the throughput is. We certainly don't know the grade. My belief is Nev's initial expectation as of Augst 18 2010 which some believed was 30MT at 3% may be what averages out. When I say averages out I don't include the bulge that recent drilling shows nor do I include Fairfield or a lot of the drilling that has taken place up to now.
Someone who reads the fine print quoted the mining of the 30 MT in 6 years but not the processing. Maybe true, maybe not, maybe the plant is capable of being run for longer hours.
As I said the ASX and it members has kept us in the dark and inflicted every devious trick on the company and as a result the company has had to operate in counter insurgency mode.
If you look at the lowest to the highest numbers quoted above there is very little difference in the processing costs, provided of course the plant is capable. Once the plant is paid for the only difference is fuel costs with a small manpower increase.
The ratio of 3 to 4.5 in years is 7.5
The ratio of 3 to 5 in years is 6 Now that guys is an interesting fact. Do we have a bigger plant?
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