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06-07-2013, 06:43 AM
#331
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06-07-2013, 08:28 AM
#332
Here's the news release from yesterday, for those who missed it.
http://www.asx.com.au/asxpdf/2013070...44jq96lzrs.pdf
The ore samples were from a Bonanza area, so would have been removed directly from a quartz vein inside the mine, and picked because there was strong visible gold or other indications of a good result. Nothing wrong with that, but they won't be representative of the whole mine. Coromandel gold mining of veins historically yielded an average of 3oz/tonne, anything over 1oz a tonne is now regarded as a bonanza grade. The samples NTL sent in ranges in yield from a low of 30oz/tonne to 300oz/tonne (10kg of gold in a tonne, a tonne being about half a cubic metre of ore).
The gold price has dropped a bit, but is still in real terms at least twice what it was worth when serious mining last stopped at the Talisman Mine area.
Majorbarejet is right, the highest sample grade mentioned, about 1.2% gold (those sorts of results usually apply to copper or base metal mines) would in theory mean that if you sent a small wheeled vehicle in, and it returned with half a cubic metre of ore at that grade, there would be US$360,000 of gold within the load. Plus about US$6000 of silver of course.
I would like to hear a bit more from the company, about how they're getting on with planning on the mining equipment for New Talisman, but at the same time happy enough to hear they have dropped the idea of more immediate funding for a heap leach project overseas. We have enough gold to work with right here.
I found this older writeup from Heritage Gold on the BM37 bonanza vein. It's from May 2005. See page 21.
http://www.nsxa.com.au/ftp/news/021717271.PDF
The crosscut was taken directly from the tunnel wall, and had a grade just under 30 oz/tonne. There's also a photo or two from when limited mining was established, using a Bobcat and a trailer pulled by a small tractor.
More detail from a 2004 writeup on the BM37 crosscut. The gold appears as small grains surrounded by sulphides, not obvious, but very high grade. No mention of how extensive this area is.
http://www.nsxa.com.au/ftp/news/HGD272004125238.pdf
Last edited by elZorro; 06-07-2013 at 01:06 PM.
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06-07-2013, 08:59 AM
#333
mpotoko update at the bottom of the last release, moosie.
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06-07-2013, 11:20 AM
#334
Originally Posted by moosie_900
sorry, i meant the actual prefeasibility report on it telling us if they are going to go full bore or not with the investment
I got the idea that there wasnt going to be one because they didnt have sufficient time to do the study and due diligence before the option expired. Could have the wrong end of the stick though but thats what I read into it.
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06-07-2013, 06:38 PM
#335
Banned
Originally Posted by majorbarejet
I got the idea that there wasnt going to be one because they didnt have sufficient time to do the study and due diligence before the option expired. Could have the wrong end of the stick though but thats what I read into it.
Im with you major. It appears from their first announcement and second on congo that they would get a PFS around the same time they decided to exercise to take control. That sugggests to me that the Netco company mustnt have completed the study if it says DD could not be completed.
Major do you know anything about the managment team?. It seems they have really changed this co.
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07-07-2013, 06:52 AM
#336
only what I have learned from this forum and from company reports for ntl and heritage. Bullish, you must be the one closest to the actual mine itself, anything going on there, any word around Waihi? Good to have a " man on the ground" so to speak. Seems all go, great grades from the samples although I would suspect they are the really good ones only - would get a better picture if they put them all in. Smallest is 300g/t - would be more revealing if they put in how many samples contained under 2 g/t which I understand is sort of a benchmark for viability.
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09-07-2013, 02:42 PM
#337
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09-07-2013, 04:07 PM
#338
Member
I've been considering buying some NTL, but in the back of my mind are some greenies standing in front of the bulldozers like Bathurst and Glass Earth.
I was wondering if any of their mines are likely to be under the spot light, or have they not got any conflicts.
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10-07-2013, 04:16 AM
#339
Hello from Monte Carlo!
Good news I see all around! Would be nice to see this price maintained though before we get our hopes up. If I remember correctly we saw someone buy small amounts to try ignite the price many times in the past, so don't get your hopes up to soon!
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10-07-2013, 07:36 AM
#340
What is known as a FOMO moment (fear of missing out ) close relative of another common modernday saying
FONK (fear of not knowing) -both are drivers of the modern youth via social or in some cases unsocial media
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