FXR 0.00% 0.2¢ fox resources limited

smash and grab:hexham

  1. 225 Posts.
    Smash and grab is not the way to describe the current Whundo operation.The amount of drilling going on to increase the resources is phenomonal.At the moment are racing ahead to upgrade resources and define just where to mine.The last resouce upgrade of west Whundo put in 69%upgrade on resources and my guess is that within the next week we will see a similar upgrade come out and the same again before the year end is out.
    Foxes problems are twofold
    !1where to drill because at the moment everywhere they put a drillrig seems to produce some results .At the moment they sem intent on focussing around current and immediate future mining areas but have no doubt by the year end they will have mapped out five years worth of copper mining at current rates of production
    2The harder problem is how do they exploit their many resources simultaneously.There is nickel,the nickel tailings project ,copperoxide and the Ayshia zinc and Ayshia copper just coming into play.Just on the Ayshia zinc there is $100-200mil worth of ore ready to be taken(25000 to 50000tons depending on cutoff grade used).
    Considering they only started copper mining in June this is an awful lot to digest.
    3The big picture objective is to find the source of all this mineralisation but in the interim they have to ensure they extract their shortterm objective of about $15mill worth of easy copper every month which they seem to be doing with aplomb
 
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