RE:How Soon Could NFG start mining?DanWarren wrote: This was a question posted on this board by Rosie 1, yesterday.....now, I don't see that post...removed?....why?
Well, I posted an answer to that post, and here it is:
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My understanding is that by using Maritime Resource's (MAE) Pine Cove processing facilities on the coast of the Baie Verte peninsula in Newfoundland, which is 240 kilometers from Queensway North by truck ( but could also be barged to Pine Cove as it has a deep Water pier as part of the plant), mining could start somewhere in around one year or somewhat longer.
I believe Denis Laviolette stated this at one point.
The Pine Cove mill has key environmental permits. But NFG needs some permitting for its mining plans. However, the Newfoundland govt is very motivated to get mining going, and wants to have at least 5 new mines by 2030. So, they would likely be eager to help get NFG jump started ASAP, would seem reasonable.
NFG has penned a Memorandum of understanding with MAE regarding the processing of Quuensway ore at this facility, and NFG invested around $2 million in MAE ( maybe it was $4 million).
That plant can process 1400 tons of ore per day.
This is the quickest way to get into production I assume, and could posdibly generate enough profits/ cash flow to cover all or most, or at least much of, NFGs exploration costs and other development costs, and enable loans to be provided for further mine development in the future, I would think.
Starting small scale by open pit mining north Queensway, would also be a sound strategy to the start of mining operations. I have heard mining experts state that starting production at a small scale first is a smart strategy.
I believe this is the most logical step to start production ASAP.
You should try and stop giving the buccs and the bashers and always negative posters a platform this is what your doing when you directly responde to them I have been very guilty of this in the past myself which a few of the good posters here have pointed out to me I have tried to stop doing it but sometime it is hard not to respond to thier negative tones outright misinformation and unrelated negative remarks .
When newfound gold hired Ron Hampton as chief development officer a man with lots of expertise and experience in mine development and building they got the process started to go it alone or to advance development so someone else could easily take over an ongoing mining development process
That being said I do believe there will be multiple mines here with multiple partners and players .
newfound gold is progressing on multiple levels at the same time moving the project forward on many fronts
Even as they explore and position themselves to take advantage of many opportunities here I don't think any final decisions will be made on mining themselves some of the open pits or taking on any buy in partners or any out right buy out partners for some of thier land package until they have a good chuck of thier drill results back from the current drill program of 150,000 meters guided by the 3D siemic survey which could prove high grade gold to depth on many of the existing zones and possibly some new zones as the geology suggests
They have positioned themselves to move in multiple directions at the same time some of these positions you have nicely articulated and I believe many good things will come to fruition here and even though some think they aren't moving fast enough when you consider it has only been less than 4 years they have moved this project at lighting speed during what has been the most difficult time in the worlds history in recent memory with COVID etc 2024 will turn out to be a great year for newfound gold
and those that where patience enough to let the company execute on its many directional ongoing plans