If there is an announcement today - hopefully it's early enough to give the market time to react.
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If there is an announcement today - hopefully it's early enough to give the market time to react.
Looks like it will be ten working days then haha!
Lots of sellers piling into 3C and not many buyers so expect this to drop a bit over next few days.
Might be a good time to buy more around that 2.6 to 2.8 in case it drops that far.
Bit of a tricky one, such rapid gains and you are waiting for it to fall back with some profit taking, yet an announcement pending.
This is where all the dodgy deals get done isn't it, the people providing such market knowledge give an nod to associates.
You all know that insider trading goes in but you still try shares knowing such stuff happens in the background.
Quiet day today - 3.8mil traded. Calm before the storm?
Jona I can not make sense out of what I said as I did not say what i intended. I will forgive myself some what as that is the day I came home from Braemar hospital after a full left knee replacement.
So I did not finish the statement which makes all the difference. I should have said "so here is my take that gold is present as the market will see it. These grade come in with toooo good to be true. I am as certain as I can be that they are true but does the market. And my point is that the market has every right to be cautious.I believe there nerves will settle as the % as I have outlined..
I have had a phone call from another shareholder and he did not understand it either as I intended . Hope this clears up my intention to you and the other shareholder
Cheers all
Have a look at this site
www.mining.com/worlds-top-10-rookie-gold-mines/
Here you will see the worlds top 10 have a grade from 7.7 to 14 .1 g/ton.
So if we now have an average about 22g/ton, then it is off the charts.
Hence my point is that before we see any big companies buying in they will want more proof.
My point is that the bulk sampling will verify to 90% the proof they need.Then I think we will see the SP head north in a big way. In the mean time it matter little what you or I think.
Cheers
digger what do you think about the cost of mining(bulk sampling) up to 20,000 tonnes for TWO years. Starting at 650 tonnes month initially (this may well change to a higher fig?). NTL say they have enough cash to cover what two years ($5.5 mill cash) but surely the costs of modernising the mine esp for safety and the machinery accessing the other levels etc would chew up funds quickly and the grades will drop as there will be waste rock etc mixed in with the main vein material as they go to each side of the vein.
I know they should in theory be earning plenty of dough when the first gold is poured which should cover this and more but timing and unexpected delays etc could be spanner in the wrks. be good to hear more opinions .
Have found more info, answers some of the questions but costs will have risen since then (2013) and gold too prob;).
Mining Method – Ore veins are steeply dipping, from 70° to near vertical, with widths ranging from ~1.0m in the Welcome/Crown area to >6.0m in the Woodstock. Preliminary stope designs were constructed encompassing the volume of estimated payable ore in each resource block. Analysis indicates that the geometry of the lodes is potentially suitable for a number of mining methods. The study recommended that a sub-level stoping design be implemented to provide the flexibility to switch between hand-held and long-hole drilling techniques where applicable.
Materials Handling – An option analysis was carried out on the installation of rail bound transport systems underground compared with the deployment of a fleet of small, rubber tyred loaders and trucks. Results clearly demonstrated that the flexibility of a trackless fleet, which would enable extraction of the resources below 8 Level through a series of small ramp systems, held significant advantage to the project.
Do you think these pricing are realistic?
Cost Estimates – Capital and Operating Cost estimates were determined from supplier quotes and budget prices. The total capital requirement estimated for the project, including sustaining capital, rehabilitation provision and contingency was NZ$10.9 million, with an initial drawdown of NZ$4.3m in year one. Total operating costs, inclusive of royalties and overheads, amount to NZ$33.5m over the five-year mining period. Maximum cash exposure amounts to NZ$7.3m incurred during the second year of operation following which the mine would be completely self funding.
The short answer is bring that question to the AGM which I think is next month. you then get the best estimate from the horses mouth.I do not know the cost estimates or the built in reserves for anything to go wrong,
I am hoping the AGM will be in say Hamilton,or Morrinsvile ,or Waihi. Auckland is just too hard to get a park.
There are a lot of sell orders at .3c people trying to profit take now, but I am quite keen on this now and have placed a cheeky order at lower prices in case they decide to exit below that.
Todays first world problem: Too wet for golf today, don't want to lose any more of my 50c golf balls, so driving lunch and range today.
Nice - 1st bid of the day 3.2