No mention of the 20,000 ton or 10,000 ton bulk samples available at Purdys and Comet Wells in the interview. Novo has all the money it needs at this point and DL doesn't. Sure doesn't seem like QH is in a hurry to prove up anything, especially at Purdy's, maybe trying to squeeze Artemis major investors into taking a buyout. DL can counter that with good results from 4,500 ton bulk sample at Patch 47. I assume Artemis is already drilling and trenching at Patch 47 in preparation to taking the bulk sample. Should be able to run it thru the mobile processor at Radio Hill unless blackcat is right that the mobile plant can't handle the conglomerates. Never heard a rebuttal to blackcat's comments on the mobile plant from anyone. Have QH and DL reached an agreement to wait until the gravity plant at Radio Hill is completed to process both of the large bulk samples for Purdys and Comet? Or do they think the large bulk samples are a waste of time. Its been 3 months since we've known about the 20,000 bulk sample permit at Purdy's. We're being kept in the dark for a reason, but hard to see what the reason is. Either Artemis or Novo should address this issue as they are the ones who brought it up in the first place. How hard would it be for management to give us an update on what they're planning?
As to the large bulk samples, how would you determine where to take the samples that would be representative of Purdy's and Comet as a whole? Would the market accept results of the large bulk samples as representative of the entire area? QH in the interview stated that doing the 60 small bulk samples in the next 4 months at Comet might result in an inferred resource (Around 300 tons in total which seems ridiculously small). If that's the case, then the 20,000 and 10,000 ton bulk samples should certainly do the trick. DL has set-up a mobile processor at Radio Hill but that seems destined for the 4,500 ton bulk sample from Patch 47. That leaves the gravity plant being installed at Radio Hill (ready in June) for Purdy's if Novo will go for it. Novo processed a 30,000 ton bulk sample at their mobile plant at Beaton's Creek near the end of 2016. You would think that Novo would process both the 20,000 and 10,000 ton bulk samples at Beaton's Creek. You would have to truck it 150 kilometers (1,500 round trips) but when you compare it to $30,000 per each of the sixty 5 ton samples to be processed over the next 4 months ($1,800,000), then the trucking cost doesn't seem unreasonable. Don't know if Novo could relocate the Beaton's Creek plant to Radio Hill but think of the money it would save. Oh I forgot, Novo doesn't need to worry about saving money. Guess we'll just have to wait until June when Radio Hill cranks up
QH is saying 18 months for trial mining. I don't believe it will take that long but as QH says "it has yet to be determined where to process it". What's happening is that until they drill down dip from Purdy's and Comet, they really don't know how large a plant they will need. Don't you wish it were true that Novo and Artemis in the next 18 months are going to determine how much conglomerate gold they have in the Radio Hill area and coordinate the size of the plant together.
ARV Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
