Stuff regarding also Block JLe 18 févr. 2011 à 07:35, x a écrit :
Hi,
In your last couple of news releases you have not communicated very much related to Block J. As per your latest corporate presentation dated 25th of Jan however you state the following regarding Block J: "Further Sampling and trial mining is beeing planned." No more no less.
When do you more specifically intend to communicate more about the future related to Block J and isen't there an option here to earn som money for the company by starting some trial maining at that block in some of the areas already sampeld?
Do you intend to also at the time you relase the schedule realted to the new sampling program at EPL 3402 relase a schedule related to further sampling as well as trial mining at Block J?
Best regards
x
Dear x,
By contract with IMDH regarding the acquqisition of EPL 3403, we must first complete the first 2 sampling phases on EPL 3403 before starting work on other concessions such as Block J. Therefore, the schedule to start work on Block J will be decided after the second sampling phase on EPL 3403.
It is important also to understand that a trial mining does not necessarily generate profits. It could happen but generally it is in less than 20% of the cases.
Trial mining is planned to generate economic data in order to prepare an eventual production start up. It is also important to understand that even if a trial mining is not generating profit, this does not mean automatically that a production would not be profitable.
The main goal of a trial mining is to established production block grades in order to define the high grades area and low grades area in order to get the best mine management of the resources. Therefore, it has to be clear that a trial mining is still an exercised that must be fianaced in adavance in order to cover the costs and if it does generate profits, it is considered a bonus.
Kind regards