whats coming up for hor, page-20

Cheers Mono,

Another general question for all. Through which port will copper concentrate containing 1 kilo of mercury per tonne be shipped? Freo? No way. Esperence? err not after Magellan Lead. Gero? maybe, but the winds are a high risk regarding dispresion. The northern iron ore ports? dunno.

Maybe they can find a port, and probably only after they ship their concentrate in sealed sea containers = more cost per tonne of concentrate shipped = more OPEX.

Which smelter will take the ore? Hard to envisage anyone accepting those levels of Hg. This is the biggest unknown to the whole equation. No buyer = not ore = toxic waste.

JORC requires a deposit to be economic at some point. No buyer = not economic = not JORC resource. I would question any JORC resource statement on these grounds.

So the reality is, HOR need an offtake agreement before they spend more money drilling for a resource.

Another issue to be raised - environmental contanmination and rehab. Has the ground been poisend by Hg by historic mining activites? And how long will HOR be required to monitor for Hg? For example, U miners in the territory - Narbalek is still being monitored to this day!!

These costs can break a mine. How much will it cost to ensure no persons, now and in the future, will suffer from mercury poisoning? Millions is being conservative. Proabably in the tens of millions. Can this mine produce a profit large enough to offset the environmental costs? Does it have the Cu/Au grades for this?

HOR have a lot of work to do before they can justify the current share price.