GREY:NEVDQ - Post by User
Comment by
Rational47on Jan 26, 2023 1:41pm
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Post# 35248224
RE:Confidence in Randy vs PALA
RE:Confidence in Randy vs PALA@Rockhound3 Hello, I assume you never really went away; probably home setting on your hands like the rest of us hoping for the mere survival of NCU.
What's going on? Well, Randy is now on the board as well as more qualified individuals. They employed a new engineering team. The weak ground conditions are really reportedly better than average for the area per the new team. They have identified several high grade stopes and will have better access once the dike crossing is completed Q1. They are taking bids from vaious mining contractors and once that task is completed will commence mining operations NLT Q3. They plan on completing the ventalation system soon. Have they paid their overdue past bills? Don't know. What amounts of cash are they burning per day. Don't know that either.
An older PR stated they thought they could process 6000TPD of of ore. My very rough calulations translate that to mean about US$1.2M a day gross revenue w/2% grade ore at today's copper prices. $7.00 SP? Hardly! $1.00-$2.00 maybe in late '23 early '24.
Still time to average down. NoFluff seems to think NCU is ahead of schedule. If so, maybe generating income late Q2. All of this off the top of my head. Don't hammer me if I got some of it wrong, folks.