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Plexmar Resources Inc V.PLE



TSXV:PLE - Post by User

Bullboard Posts
Post by Nikolaion Jan 17, 2006 8:09pm
192 Views
Post# 10195748

corrections on mill size & timing, etc.

corrections on mill size & timing, etc.Spoke with the company the other week and they clarified the mill plan, etc. The web site and press release that accompanied the last PP are both outdated. Originally, they wanted to move the 150tpd plant but that was too expensive and beyond the scope of potential operations in 2006. Their NR in late 2005 mentioned a 25tpd cyanide plant, however, the company feels 50tpd is more appropriate for scale. It will be several months before it's operational. The company is not in a position financially or "politically" to just slam a plant in there because they consider buy-in by the locals a necessity, despite the fact that the company has rights to the property. Long-term this makes sense to the company doesn't alienate the locals. Unfortunately, that means waiting a bit longer. The 50tpd plant would produce approx. 30-40oz gold per day. They'll need to raise cash soon because they only have about 2 months funding. I think a rally at this point is momo flypaper and may be eclipsed by a placement in the near future. Not sure how large. Might be better to participate in the PP as there univerally seems to be one around the corner with exploration companies. Some on this forum suggest the company is receiving funding via exercising of warrants. I don't see that happening unless the share price is well north of the exercise price, or previous placees are unloading to participate in another PP.
Bullboard Posts