INL is going to fun with their reply to this hilarious piece of...

INL is going to fun with their reply to this hilarious piece of comedy.

Jervois holders, have a long hard look at the "quality" of management you have at the helm of your company revealed by this announcement. Let's go through it.

"JRV's process is far more advanced than work being carried out by other companies, including INL." HAHAHAHAHAHA...



Sorry, I had to pause for a couple of minutes there, but let's move on.

"To adequately test the
nickel laterites at Young a demonstration plant of 20,000 to 50,000 tonnes a year is required"
Oh REALLY! When you taste test a meal, do you have to eat the whole meal? Why would you need to "test" 50,000 tonnes a year to check that the process works? Why would this fellow say something so bizarre? Are you looking at the quality of your management JRV holders??

"It also became clear to Jervois Directors that the only asset that INL could bring to any merger proposal,
were the remnant mine tailings at the Hellyer mine in north west Tasmania." Oh REALLY! How about the 22% holding in Bass Metals, and the contract they have to process all their ore?? How about the Zeehan slags which have a value of $364 million, which alone is about seven times the market capitalisation of JRV. How about the contracts to process Electric Arc Furnace Dust where INL GETS PAID to take this valuable but hazardous zinc resource off producers hands, and then INL just mix it with their zinc concentrate without processing which adds hugely to the zinc % of the concentrate? And let's not mention the INL process which has the ability to become the new industry standard in metal production, because it is half the capital cost of a smelter, is cheaper to run, has no hazardous by-products like cyanide, and can process multiple metals from the one process stream. And oh, by the way, did we mention that that tailings dam contains a mere A$3 BILLION worth of metal at today's prices??? A mere 60 times JRV's market cap.

And my favourite..."INL’s metal recovery technology is unable to economically recover precious metal from the Hellyer tailings and is only able to recover zinc metal.". If you need any proof of the duplicity, the deception, the outright deliberate misrepresentation of the truth coming from JRV's management, just read that sentence again.

Silver is a precious metal isn't it? INL's process recovers 85% of the silver in the hellyer dam. Is that not economical?? Sure, the gold recovery is only 30%, but since the gold in the Hellyer dam comprises only 23% of the value of the metal in the dam anyway, it hardly makes much difference. 70% of 23% means that only 16% of the Hellyer metal is left behind. Not economic? What is the proportion of value at Young represented by gold?

"Only able to recover zinc" Oh REALLY!! What about the 97% lead recovery Mr Purcell? What about the 85% copper recovery? What about, as I said, the 85% silver recovery?

Have a good long hard look at the "quality" of your management JRV shareholders, and be afraid. Be very afraid.


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