Just bought a slug of TNRHave been a poster/holder of MAI for many years...If TNR is going to get 1/4 if Xtrada backs in, the numbers from the MAI board poster December3 should get your attention...
December3 has a dry sense of humor...
You gotta be sharp and put two different news releases together to see how this recent news release is VERY bad news indeed for MAI! Time to sell and run away from this one....
First - Watch out! Those metallurgical test results show that the ore isn't just an oxide or sulfide copper ore - IT HAS CONTAMINANTS!
Now take a look at how those contaminants will hurt MAI and hurt investors:
922,00,000 tonnes of resource (Sept 8, 2008)
Head grades
Contaminant Au - 0.87 grams per tonne (gpt)
Contaminant Agu - 1.7 grams per tonne (gpt)
Recoveries (i.e. how much contaminant is left after processing)
Contaminant Au - 56%
Contaminant Au - 62%
Therefore MAI will have to deal with the following amounts of RECOVERED CONTAMINANTS!
Au - 1,700,000 ounces
Ag - 31,200,000 ounces
AuEQ - 2,270,000 ounces
Now once the Scoping Study gets completed and the numbers are applied to the various ores as delineated these numbers are VERY likely to get higher! That means an INCREASEIN CONTAMINATION for these calculated figures.
The only saving grace is that the recoveries show that at the worse case scenario ( the Weakly Enriched Sulfide Ore) that the deposit contains 10 Billion pounds of Copper.
So buy this dog if you want, but with a minimum of 10 Billion pounds of Coper and having to deal with 2 Million ounces of gold contamination MAI is sure to be a money loser!
sell, SELL, SELL
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So if you toss 11billion lbs of cu into the above, 1/4 of that mess is not bad. We figure .03 cents per lb in the ground as is, which equates to about $330,000,000.00