RE: RE: cooper Not enough copper to run a business...could be a supplementary source of income.
More of a problem than a benefit it seems the higher copper in Jojoba was seen as a potential problem with gold production...It was a reason why we purchased the SART plant originally to take the copper out of the gold so refining process would not be clogged up.(prod05 can give a more technical description)
Maybe the reason why the mine plan changed...Jojoba was already started and now the presentation says not until april 2013...Was copper the issue???(my speculation only)
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Back in 2008 and 2009 , preliminary test showed that there was plenty of Copper and that from initial processing of tonnage, the amount of copper was rather impressive. Why Barnett puked on the SART plant was in my opinion more of a IOU problem the nthe true merrit of said. Hence the lawsuit.
Recall that Jojoba was not even in production and this was only a test....
When they elected to puke on the project and Bioteck sued, that was the signal for me and I exited..and darn glad I did, for this mickey mouse outfit, is still in Disneyland and running on money borrowed from one credit card to pay the other.....
There is a serious Mgmt shake out required here, and even at that not sure it makes it to the end goal.
Perfomance to date = 0, credibility = 00.!
From MD&A 2010
A pre-feasibility study of the combined development proposal was initiated in late
2006 and the resulting Pre-Feasibility Study in the form of a NI 43-101 Technical Report was received and posted on SEDAR in April, 2007. The conclusions were that key difficulties faced by earlier operators can be overcome
The copper contamination in the leach solutions that affected former gold recovery is being addressed by a SART copper recovery plant built under an agreement with BioteQ Environmental Technologies, Inc. of Vancouver, BC.
The SART plant treatment of solutions up to February, 2009 produced copper sulphide
precipitates that contained a total of 11,555 kilograms of copper, 9,055 kg of which was shipped to a smelter in 2008. The balance is awaiting shipping after re-start of the SART process generates additional product to make up a full load. The SART plant has not been used since February, 2009, so no additional copper production has taken place.
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So the Pre feasibility study quantifying the assets and it's IRR clearly stipulates that a Copper processing scenario is required to make this business plan viable and yet they sh--!!-can it.....
Nice move - wonder why this is heading into 600 Million shares, in debt over their head, and once again will miss their production target ?
Wonder no more.....unable to stick to a plan and flying by the seat of their pants!