RE:RE:RE:Canada Nickel Confirms High Grade Nickel Near-Surface I saw the Texmont cores at the PDAC yesterday, and they looked really good. However the high grade assay release hasn't had the desired effect on the share price. It's like the market doesn't really care.
The problem is, going through the historical archives of the property, there are serious issues that need to be addressed, in order to profitably mine the property. Abandoned mines are abandoned for a reason. Abandoned mines remain abandoned for over 50 years for a reason.
Origianlly the modelling and grades looked good, but read the comments on CEO.ca of a retired executive who worked there as a summer student, and from the Ontario database. The issue is when it went into full production, guange minerals (asbestos) in the footwall kept clogging the floatation circuit, so it had to be shut down every few days and manually cleaned out. The grades and recovery were good when they could recover it, but it reminds me of a joke about the old Canadian Forces C1 Sterling Sub Machine Gun . The safety catch on those SMG's "Kind of molstly worked, PART OF THE TIME". (in 1977 George Lucas used a bunch of deactivated Sterling SMG's as prop guns for the Stormtroopers' Imperial Blasters)
The clogging issue must have been so pervasive that they gave up and walked away after only 6? months. I hope Mark has factored that into his plans and has come up with a way around it.