ThoughtsI've not been checking up on things here for a couple of weeks and have just read a number of the postings, some of which show that many people simply dont understand things no matter how much information has been posted in the past.
Nugget Pond is a high tech mill, designed to handle 500 TPD of ore although they can get about 600TPD out of it. It was meant for high grade ore, ie ore around the 10g/t or more. Not low grade ore of 2 or 3 g/t.
Nugget Pond is much more costly to run than PC, add in a fee of around $10 per ton processed and $10 or more per ton for Transport to the facility and you are just giving money away in reality.
if the ore at PC is so complex, then why on earth would ANX want to buy out NIS?? why would MOA have wanted a deal with NIS if the ore was so complex and there was little likelyhood of profitability?
Oh and if you still think it is complex then how come the ore processed at NP already had a recovery rate of over 94%!! need I say any more.
I have always been sceptical about ANX management and there decision making as I'm sure you're all aware with my preference always being for the MOA deal rather than the ANX one.
If they are seriously looking at using NP then it looks really bad to me, as yet again all these so called tech expects that were brought in to find the way forward from the Gekko system have been a total waste of time and money and the board of Directors. They must seriously consider there positions.
I feel sorry for those that bought the ANX story.
Maybe something can be salvaged from the situation but its not looking that good and a fire sale of Chile Iron would worry me to, as things have gone very quite about the rights issue etc etc.
I just hope some of you looked at JPR and decided to invest a little cash in it. It is moving ahead slowly.
I may have another Australian share for you to research fairly soon!!
LOTM