Ain't life a bitch
Swings and roundabouts
production is all gunna come good soon with delivery of the excavator and tip
truck expected this week.
Just when the company was going to jump ahead and holders thought we were on the up
those curve balls hit us all: extremely wet weather, lengthy downtime for repairs on all three items of mining plant, continuous loss of mains power for the past 9 weeks, a 10 day downtime of the concentrator plant
The above now also explains the delayed drill results with a positive cherry on top The program has been expanded and now comprises drilling a total of approximately 600
metres in fourteen (14) angled diamond core drill holes spread over six (6) drill platforms
Edie Creek Mine Mining and production Update
After a continuation of the prior month’s mining and processing of high grade ore during the first
half of the Quarter, the second half saw a cessation of mining ore from the high grade Surmans
vein system as further development work was required and commenced. Additionally in this
second half period, both the grade and quantity of ore mined and processed was negatively
impacted by a number of factors including extremely wet weather, lengthy downtime for repairs on all three items of mining plant, continuous loss of mains power for the past 9 weeks, a 10 day downtime of the concentrator plant and the processing of very low grade, “easy to access” ore
during the month of September as a result of the wet weather.
As outlined in the previous Quarterly report, to achieve consistent,
increased mining and processing throughput of 40 to 60 tonnes per day, a number of items of mining plant and processing equipment have been sourced and/or ordered with delivery of the excavator and tip truck expected this week.
DRILLING AT EDIE CREEK The program has been expanded and now comprises drilling a total of approximately 600
metres in fourteen (14) angled diamond core drill holes spread over six (6) drill platforms
utilizing one of Niuminco’s drill rigs and crew. All coring is triple-tubed in HQ size rods to
enhance recovery.
Well at the end of the day all is still well as there's still Gold in them PNG hills & Tin in tassie
Just a small speed bump along the way which is gunna give all holders a slower ride.
FID
NIU Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
