Previous post was all red so I highlight STs replies in italics ..... ------------------------------------------------------------------------- I asked ST these questions and his replies in italics;
Is it likely we could mine the shallow material soon or may it not be economically viable to do so without the lower level deposits? Our initial work will be to review this. There is good evidence of mineralisation and three untested drill cores.
Are we saying that if we don’t get the lower level water discharge permits and your investigations of the upper levels indicate insufficient deposit to make mining worthwhile, the whole acquisition is worthless ? In theory yes. Our deal with the seller is that if the discharge is not awarded they will pick up the cost of the restoration. We were keen to ensure that we did not simply acquire a future liability. Note that the discharge permit technical work has been done and signed-off so we believe the risk of tis is relatively low.
How likely is it that mining will commence of the existing shallow deposit and why wasn’t the previous owner mining it rather than put on care and maintenance if Tin and Tungsten prices are high ? The previous owner is a big Spanish construction company that was focused on the deeper high grade mineralisation. The access to the shallower area would be material for us and also reduce our net funding required to then access the deeper resources. ----------------------------------------------------------------------- So we wont get stuck with a liability @eriko and yes, Steven Turner did an amazing job getting San Finx under our wing I've upgraded my sentiment from HOLD to BUY
RFR Price at posting:
7.6¢ Sentiment: Buy Disclosure: Held
