Thats right, they might not convert the debenture because the price may not be that high, although it very well may be..... But you never know, they might just convert it anyways if you know who the debenture holders are. I'll give you a hint..... one of them is the guy that bought 6 million shares in the open market before Christmas......
Worst case scenario NTC pays back the loan (Because they are profitable and will have the cash) and the loan costs them 250k or there abouts. Thats two weeks profit. And no dilution.
ADE looks to have some promise but the deposit grade is pretty low for underground for my liking, again I'd rather put my money in the ONLY tungsten producer that is publicly traded in North America. Improving throughput. Improving recoveries. Discovering new EXTREMELY HIGH GRADE zones.. 43% partner in value added processing JV..... plus Mactung. All for $20 Million. Its a no-brainer.
By the way, I did find some drill results on ROK's tungsten zone. Grades are nothing great for underground, and the intervals are pretty narrow to say the least. They aren't even in the same ballpark as NTC. The longest interval ROK reported was 13m at a grade of 0.5%W03. The highest grade wasn't even 1%..... it was 0.89% over a whopping 1.18m. Cantungs new zones have grade's much much higher grades over very good intercepts. Here are some highlights from NTC, then below that ROK's results followed by NTC's full results at the bottom.......
NTC RESULTS
FIRST QUARTER RESULTS
Hole ID From To Interval (ft) Estimated true Grade
(ft) (ft) thickness (ft) (WO3%)
U1233 82.3 99.2 16.9 15 4.16
U1234 46.1 73.8 26.5 21.7 1.10
U1234 104.8 116.5 11.7 9.6 1.48
U1235 194 210 16 9 1.78
U1237 49.5 67.7 18.2 21 1.92
U1240 50.5 62.8 12.3 10.3 2.53
U1243 97.5 120 22.5 21 1.30
U1244 31.5 38.0 6.5 5 2.33
U1244 79 112 33 31 3.24
including 92.5 109.0 16.5 15.0 5.72
U1245 181.2 214.5 33.3 30 1.81
including 186.2 199.0 12.8 12.0 3.24
U1246 72.6 89.9 17.3 16.9 2.90
U1248 40.9 68.5 27.8 26.8 1.67
U1253 47.2 60.9 13.7 12.9 1.62
U1255 89 100 11 7.8 1.03
DRILL RESULTS BELOW 3,700 WORKINGS
Hole ID From To Interval WO3 grade
(ft) (ft) (ft) (%)
U1250 254.2 343.0 88.8 3.26
U1281 132.7 272.7 140.0 1.46
including 132.7 148.9 16.21 1.17
185.0 207.0 22.0 1.62
220.0 272.7 57.7 2.59
EXPLORATION DIAMOND DRILLING SUMMARY-2008 SECOND AND PART
OF THIRD QUARTER RESULTS
(results are listed only for drilling below 3,700 level)
Estimated
true
Hole From To Interval thickness
No. (ft) (ft) (ft) (ft) %WO3
U1269 47.00 64.10 17.10 6.00 3.35
U1271 26.30 37.00 10.70 5.00 1.89
U1271 57.90 63.50 5.60 5.50 2.93
U1289 239.30 268.00 28.70 Sub/to strike 2.82
U1292 38.30 48.70 10.40 Sub/to strike 2.06
U1292 222.10 300.00 77.90 Sub/to strike 2.72
U1292 330.00 340.00 10.00 Sub/to strike 1.12
U1295 5.20 14.20 9.00 Sub/to strike 1.87
U1295 237.40 246.40 9.00 Sub/to strike 7.24
U1295 260.70 269.00 8.30 Sub/to strike 0.91
U1295 332.00 341.70 9.70 Sub/to strike 4.16
U1295 358.00 394.00 36.00 Sub/to strike 1.36
U1295 412.00 422.00 10.00 Sub/to strike 2.21
U1300 23.10 37.70 14.60 13.00 2.78
U1303 26.30 34.90 8.60 5.00 1.75
U1305 20.30 39.00 18.70 12.00 1.93
U1305 48.90 52.50 3.60 3.60 4.04
U1306 310.00 335.00 25.00 15.00 1.59
U1307 26.10 31.20 5.10 5.00 6.09
U1307 70.00 72.60 2.60 2.50 9.18
U1308 35.00 53.50 18.50 18.50 2.61
U1308 75.00 105.00 30.00 30.00 3.47
U1308 145.40 147.10 1.70 1.70 7.83
U1309 41.50 60.00 18.50 16.80 2.71
2008 EXPLORATION DIAMOND DRILL RESULTS
SECTION 190665E
From To Interval Est. true Approx
Hole ID Zone (ft) (ft) (ft) @ % WO3 thickness (ft) elev'n
U1388 3700 398.5 414.5 16.0 1.38 5.0 3480
U1389 3700 278.0 283.0 5.0 4.42 2.5 3480
U1389 3700 288.0 309.0 21.0 4.26 10.5 3480
U1389 3700 317.0 327.0 10.0 1.06 5.0 3480
U1390 3700 162.5 214.0 51.5 3.31 20.0 3550
2008 EXPLORATION DIAMOND DRILL RESULTS
SECTION 190825E
From To Interval Est. true Approx
Hole ID Zone (ft) (ft) (ft) @ % WO3 thickness (ft) elev'n
U1378 3700 47.0 59.1 12.1 1.87 5.0 3690
U1378 3700 166.7 173.8 7.1 2.87 5.0 3620
U1378 3700 180.0 201.8 21.8 1.12 10.0 3610
U1378 3700 332.0 408.8 76.8 1.37 15.0 3500
U1379 3700 13.1 18.2 5.1 7.21 3.0 3690
U1379 3700 55.4 63.2 7.8 2.62 5.0 3680
U1379 3700 145.5 148.8 3.3 4.96 3.0 3645
U1379 3700 187.0 207.4 20.4 4.34 15.0 3610
U1379 3700 228.0 284.9 56.9 2.98 22.0 3590
U1380 3700 92.2 94.3 2.1 5.86 2.0 3680
U1383 3700 277.6 284.0 6.4 1.29 5.0 3545
U1383 3700 287.0 294.0 7.0 0.77 5.0 3535
2008 EXPLORATION DIAMOND DRILL RESULTS
SECTION 190400E
From To Interval Est. true Approx
Hole ID Zone (ft) (ft) (ft) @ % WO3 thickness (ft) elev'n
U1317 3700 196.0 203.0 7.0 1.52 5.0 3540
U1317 3700 262.0 265.0 3.0 1.60 3.0 3490
U1317 3700 373.0 382.0 9.0 1.53 8.0 3390
U1319 3700 59.0 64.0 5.0 2.09 4.0 3645
U1319 3700 77.3 94.0 16.7 2.41 10.0 3620
U1319 3700 102.0 107.6 5.6 3.45 5.0 3605
U1320 3700 54.3 66.0 11.7 4.20 11.0 3660