Good question Acw, something we would all like to know. I would not think it will be any time this year to be mining with our own plant. There will be an announcement in the next few weeks regarding the decline,hopefully there will be no hold up with the decline as I would think once the contractor is set up on site and they start digging they would want to keep going. They say it will not take long to get a full mining licence but what is coincided long and not long ?? The licence we have lets us extract 50K tons a year, is that a calendar year or financial year ?? We can run 4k ton a month through Cleveland mining's plant but we need to be running more than that a month to start making a tidy profit.
After the decline is complete, they will know how many high grade shots there are over that 100 or so meters and have an actual mining grade, both selective mining and also non selective mining, they will be able to have an idea of what is there and what mining style to go with. So many questions, so few answers....
As for the SP, unless they pull a rabbit out of the hat, am thinking there will not be much action until the scoping study is complete and if we have what it looks like we have, away we will go...
OGX Price at posting:
12.4¢ Sentiment: LT Buy Disclosure: Held
