Post by
Retiredgeo on Aug 14, 2023 7:52am
Press release
Sounds like they are getting serious about trenching at Appleton North. This will involve setting up a small scale mill on the property and shipping the bulk concentrate to the Pine Cove mill for further processing.
Assuming a profit margin of $1,000 USD/oz they only need to mine 100,000 ozs to generate $100,000,000 USD to keep themselves well financed.
At an average grade of 0.25 oz/t that is 400,000 tonnes or 150,000 m3. Assuming trenches 30m wide by 10m deep that is a linear length of 500 m. Sounds like Iceberg to me.
Comment by
MAKEITBACK on Aug 14, 2023 10:42am
NFG could have owned that mill for one million dollars outright. That is what Mae just paid for it.