RE:Texmont Mine Purchase...Come On...Really??? looks like your post is being buried by a mix of social chatter and new speculation and developing a new narrative now that we know that the feasibility won't happen in the near future. We heard about feasibility even before the PEA was released. This was in 2020. First covid was blamed. Now the narrative has changed in that this takes many years.
there are a lot of videos for the Cnc play. But not many for the other endeavours he was involved with. I'm rather fatigued in listening to him but has been yammering about new mines and after all this talk how many mines that Selby was involved with ever became operational? According to may awareness is zero.
any body make money with Mark?
Digger0144 wrote: Matthew Gordon @ Crux Investor could not contain himself when he brought up this topic in the latest interview with CEO Mark Selby..he tried to contain his laugh...but...failed....sums it up nicely for me. You can click on the link below that was kindly provided by EndZonefor7...go to minute 12:35. Canada Nickel (CNC) - Game Changing Incentive Worth Hundreds of Millions - YouTube I will also post a link provide by the Ministry of Northern Development & Mines (Ontario Government) regarding the past producing Texmont Mine.
For those that prefer a short version I will post the highlights on my follow up post...within 10 minutes of this post along with the link.
CEO Selby thinks he can provide tens of millions of positive cash flow from mining this past producing mine @ an open pit mine. The Texmont Mine was an underground operation due to the shape of the deposit.
In the past the Timmins Mining Camp has seen this story play out numerous times ...all small operations of this type have failed. You can trust me on this...my career involved selling to these entities...up until they failed...they all failed. How is this venture going to be different? It will suffer the same fate...a waste of time and resources.
In my opinion it is a desperate attempt to add value and distract investors from the true story. There is huge execution risk when it comes to mining a deposit without due diligence and relying on past exploration drilling results...Selby intends to use past exploration drilling of 30,000 metres of historic drilling to use as 80% of the resource estimate...really?
Concentrate will have to be shipped to either Sudbury or Quebec...again..this has not worked in the past and will not work this time.
For some that think this project may be a test site for the Carbon Capture Process...not going to happen.
The problem as I see it and so does Matthew Gordon and I am sure many others is that Selby has been touting a multi-billion dollar project for years and now has resorted to a "Mickey Mouse" operation with plenty of operational and financial risk...not to mention the use of human resources. We must ask ourselves...what in the world is Selby thinking? Is he even going to get the financing for this venture and at what cost...10% plus financing charge.
In Selby's own words, he expects to produce 3...4...5 thousand tonnes of nickel...how is he coming up with these figures? You will determine on my next post that the grade is below 1% nickel.
I am not posting for personal reward...I am not smart enough to short any stock...I enjoy sharing my thoughts and most of all wish all the best to all on this board. It is always a good thing to be open minded...this is my opinion only...my perspective...I hope it helps.
All the Best!
Digger0144