Post by
checkingit on May 17, 2022 11:17am
CEO Quote - ridiculous & misleading
"The past-producing Manibridge mine was last operated in the 1970s in a significantly lower nickel price environment than today"
The quotation presents the idea that the economics of the Manibridge deposit should be much more favourable today due to the higher Ni price at present compared to the 1970s. It completely ignores the substantial increases in CAPEX and OPEX than in the 1970s and the more stringent and thus more costly permitting & social issues. .... While still avoiding (failing to include and disclose) the reason why the mine closed in the 1970s and the nature of the underground workings. As previously mentioned, the mine was not profitable due to the exremely poor ground conditions which created significant unplanned dilution. DStrong alteration of the ultramafic into antholphylite features. The resulting collapse of the crown pillar and subsequent damage to the UG working are an additional complication to any resumption of mining activities.
The loose interp of Manibridge hosted within the favourable Ospwagan stratigraphy is also very questionable in the context of the general Thompson style ore bodies.
I do not think it is professional to omit these key issues in the presentation of this opportunity and allow the shareholder/investor to make informed decisions on their participation... bordering on .....