Because that what they are, a mining company, simple!
They own and operate mining leases, they conducted their first production blast, they sold bulk samples to the Chinese companies, they mined product was analyzed and certificate were issued by these Chinese companies, and above all they signed off take agreements with two of the largest steel and commodities companies in the world.
if Sino steel and Noble group recognize them as miners, sign long term binding agreement with them to buy their product, one even advanced cash payments to them, then this kind of question about them being miners sounds rather silly.
kiwi67
Just to explain the point and taking the numbers you presented into account:
14,000 Chinese yuan are worth around $2200us per ton.
so if there is no difference between ore and flakes, and at 20,000 a month let us do some calculations:
20,000 X $2,200 = $44M a monts
44M X 12 = $528M/year way unrealistic of course.
So, as much as these prices you presented would be great for kaboko, we need to keep the lid on expectations and stick to what our management is telling us.
kaboko mining is all about manganese "ore", and while prices fluctuate from month to month, it is sold for around $300US.
hope that helps!
KAB Price at posting:
1.5¢ Sentiment: Hold Disclosure: Held
