RE: RE: RE: News on Inter-Citic Minerals This board is a quite one. I have been in contact with management on this very issue for this BB thread.
My questions were the lack of news, progress of Chinese feasibility Study PR Nov 29, 2011, timetable of proposed mine.
Resource updates typically are released the first week in June. This release is done independently and the timing is somewhat beyond our control. They believe that is a resonable target again for this year. The Chinese Feasibility Study is slated for Q1-2012 and is being created for permitting and the Chinese mining authorities. Therefor its results and conclusions are not something ICI can publish in the west since they will follow Chinese standards and not NI 43-101 rules. As a Canadian company they follow Canadian disclosure rules. One of those Canadian rules is that project economics and mineral resource estimates not prepared in accordance with National Instrument 43-101 cannot be published.
A Chinese Feasibility Study, is done to different standards and for a different purpose, that being Chinese permitting. They have tried to make this clear to the market - that this is an important step towards eventual production in China, but not a document accepted by Canadian regulators. All we are allowed to do is press release that it has been completed, but not disclose details of what it contains – their rules, not ours.
The spring is historically our slowest news season, as results from last year are all in and our exploration season usually does not start again until late May. Other upcoming key dates are as follows:
- Environmental Impact Assessment - CRAES is under contract and scheduled for Jan 2013
- Engineering Design commences Apr 2012
- Project Construction commences Mar 2013
- Production commences Early 2014
I have purchase and sold this stock several times of the years, I bought this stock back in Jan 2010 at $1 and sold at $2.25, bought again at .80 and sold at 1.3 and bought recently at .94 this week. This market is one you do not buy and hold and must protect your investment and not be in love with your stock.
So in summary they do expect that there will be an update of our 2009 PEA in Q2 of this year as well as a resource update. The Chinese Feasibility Study will be finished shortly, but it is only for use in China as part of the permitting process. They may never do a western Feasibility Study as they are expensive and it is unlikely that any major capital raise for the project will take place here when there is so much Asian capital available.
Hope this helps answers some of your concerns.