North American Gem Inc V.NAG

NAG should...

[Edson88888]

Joint venture IF Teck is really in the picture.  99% recovery rate for the minerals is excellent.  The only thing I can see as being a problem would be the utilization of the "new" technology that allows such high recovery rates.  I'm not sure if there is royalties that need to be paid for such use etc.

[lucci2005]

A couple of things...1) just for the record, NAG has received at least 1 concrete offer for LL (I won't confirm who it was from and also, don't ask me how I know, I will not confirm my source(s)2) in the link that "wallywilly" posted for mine #3 application, can anyone find out where it says that "240,000 tons will be mined"?  It says this in 2 different places

[chester14]

Lucci I think that the 240,000 tons is per year. 20,000 ton per month X 12 = 240,000. Just a guess.

[lucci2005]

Here's the actual cut and pasted:"This project is expected to increase local, state and federal revenues from the extraction, processing, andsales of the recovered resource. Production from this area is expected to exceed 240,000 tons over the life of the project. Estimates for a fraction of the tax revenue based on $64/ton* selling price include:Federal excise tax $1.10/ton $264,000

[wallywill]

Hi lucci Yes your eyes are not deceiving you. 240,000 tons for the life of the mine. so yes I figure about 10 months also. There was some guesstimates on mine life around 5 years but that is the length of some of the 5 sub leases contained within the Swan Pond property. Some of the leases in the Swan Pond lease are as short as 2 years. Remember that this was originally called mine #2 and was a

[Durkastan]

I don't know about that 10 month estimate - NAG hasn't mined more than 8,000 tons/month yet. Keeping with their standard 8,000-10,000 tons/month from the first 2 mines, that would change the mine life estimate to somewhere between 24 and 30 months. If you are correct about "Mine #3" being a group of 5 sub-leases, (and I didn't realize that this was the case) then