Gold/Silver producing.....cheap cheap, page-9

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goldscraper

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24/07/16

20:42

Post #: 18350727
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Originally posted by Beard_of_Zeus ↑

Might be a case of bottom drawer, but this next round of drilling is very significant.

"Detailed shallow drilling program/plan finalised for the Enterprise and Karuka vein systems with a view to establishing a JORC Resource."

So what, I ask myself?

Well (in answer), how is the market to assign a value to this company? We know that they are producing, they have their own rigs, and that they are cash flow positive, but, looking forwards - where is the value?

JORC report might not seem that exciting but once we can establish how much more gold is in the ground (remembering that it can be processed almost immediately using assets already in place), then the market can start to assign a more appropriate value. At the moment it is only seeing the lower grades and wondering how long before the gold runs out?

The quarterly shows us that 282 ounces of gold mined in June alone = $469k in sales, which more than covered costs for the whole quarter ($411k)

So how many multiples of that 282 ounces do we have to dig up to give us 1c do you think?

That's not even taking into account the silver or the non-producing tenements.

Was unsettling to see the .3c dumped into but I chose not to sell because of the potential, and the market cap at the moment is ridiculous.

All in my own opinion and I hope that people will share any corrections or other perspectives.

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Interesting that TNT mines in tasmania owe them around 600k.
I think NIU still own 75% of this operation.

http://www.tntmines.com.au/documents/TNTHalfYearReportDec2015.pdf

NIU Price at posting: 0.3¢ Sentiment: Hold Disclosure: Held
5 Upvote

0 Great analysis

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Gold/Silver producing.....cheap cheap, page-9

Top Stories

Vulcan appoints investment bank and M&A veteran to board

Utah authorities sign off on Anson's lithium extraction plans at Green River

Mako sniffs gold at 170 g/t at Cote d’Ivoire's Napié play

Dale Gillham's weekly wrap: US fracking support boosts outlook for Australian gas stocks

Olam Agri raises Namoi takeover offer to 75 cents a share and receives shareholder backing

Antipa divests its Citadel interest to JV partner Rio for A$17M, refocuses on Minyari Dome

Medallion Metals kicking off 15,000m drill run at Ravensthorpe gold play

Week 37 Wrap: HotCopper likes Cuban oil; markets shrug debate off for Putin; firebrand quant says social media a market threat

Enova Mining unveils "high-grade" REE drill hits at Coda North, Brazil

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