RE: MAGNETITEapparentley they are awaiting the preliminary economic assessment which their last funding will pay for. This should demonstrate the high value of magnetite here. The problem on the other hand is that they just can't seem to get any traction on any other front. I presume its because they are so short of money and are already quite diluted. I'm not sure how they would proceed beyond a very positive PEA.
see below from previous news.....
The full Magnetite Mineral Resource technical report has been posted on www.SEDAR.com and is also available on the Company's website at www.skylinegold.com.
In accordance with TSX-V disclosure requirements, on a stand-alone production basis and assuming that magnetite is the only mineral produced at Bronson Slope and assuming a cut-off grade of 7% magnetite by weight, the Bronson Slope Measured and Indicated magnetite resource is 100,640,000 tonnes grading 8.8% magnetite for a total Measured and Indicated estimate of 8,900,000 tonnes of contained magnetite. The magnetite resource estimate at various cut-off grades is shown in the table below. It is reasonable to expect that, on a by-product production basis, the magnetite economic cut-off grade would be lower and the tonnage of the resource would be higher.