It's essentially the same thing.
20,000 cubic metres amounts to approx 24,000 tonne, or 2000 tonne per month. I believe that's about all they could cope with anyway.
At 10g per tonne (low for NTL) that's 20kg of gold per month.
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But they have had the ability to bulk sample since sept 2018 and no gold has been produced:-
https://www.nzx.com/announcements/324144
Yes. The processor has been the issue. OGC mothballing really stuffed things up in my view. The pilot plant proved the system works, but it would appear the actual machinery isn't worth scaling up, they would have to build an entirely new plant, or have someone with an existing consent do it for them without the cost of building the plant.
The jump in the Gold Price is the game changer. NTL may as well just get digging as long as they have a processor lined up. There is no point stockpiling ore in the meantime.
At last all the 0.7c sellers have been taken out
Agreed Brian, It would be nice to see this stock back over 1
I started this joy ride :scared: back when it was 1.8c a share its taken a lot of effort, faith and risk to get my avg cost price down to .7 so anything over that is a bonus to me and I have no plans to give these away any time soon.
If there is a sharp drop after the quarter youngatheart my current buy order will snap up all I can.
As said earlier, the gamechanger is the gold price.
As I see it there are 2 ways to look at NTL.
First as a conventional business. Will they succeed and in what timeframe? Are they suitably financed? etc. The snail like progress made is a valid concern.
Second as exposure to gold as a commodity. Providing the peer review of JORC comes in close to the company's model, you can regard that as stock. It's stock that is appreciating in value at a steady rate. It's not going to disappear. I haven't seen anyone predicting a crash in the gold price. Most are calling for a significant lift.
Come on guys the gold in the ground is worthless until you start production,even then it only has a potential value.So what happens if they don't get resource consent to mine?Or an earthquake,or mine collapse.
Just don't get carried away with gold fever,we will get there and yes the share price will react,but there is a reason why the current price is so low,and that probably has something to do with Matt Hills inability to deliver said gold!
Then apparently this stock is not for you steveb. If you think gold in the ground is worthless until you start production why do people all over the world buy into exploratory miners?
As I have already pointed out to you, NTL has a consent to produce hundreds of kilos of gold per year. The only obstacle at present is a processor. If you disregard that it's up to you, continue to gnash your teeth. And what ever you do, don't buy or sell any shares until NTL are producing.