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Ursa Major Minerals Incorporated T.UMJ



TSX:UMJ - Post by User

Comment by musicman63on Mar 16, 2010 9:47pm
160 Views
Post# 16890680

RE: RE: RE: Ore Shipments

RE: RE: RE: Ore Shipments

Please correct me if I’m wrong but I believe I read in an earlier post that it takes approx. 6 months for Xstrata to pay for ore that is shipped today. If this is correct then the only revenue this company will see this year will be from the ore that was shipped from February 10 to now, approximately 21,000 tonnes as of March 4. I was on the Greater City of Sudbury’s website today and the reduced load restrictions will take effect on March 17th if they haven’t already been posted. The date the restrictions will be lifted is not known as the decision is weather dependant however I’m told that the restrictions are seldom lifted before June 1st and could be extended if inclement weather is experienced. This would mean that the company’s revenue will be quite limited for 2010 as there could be as much as a 10 week delay in shipments of ore.  The revenue from any ore processed after June 1st won’t be realized until next year and that is a long way off.  

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