Nickelex Resource Corp V.NICK

Valterra Livramento Mine to start extracting ore today.

[OldGold]

Just a very short video, hot off the press. The guys will be extracting ore today by the sound of it. I can't believe how fast they have got to this point. Still a crazy low SP. 

[OldGold]

Well, they said they would have ore to the ROM by Thursday, and they have. He said they delivered 150 tons of ore in one and a half hours, so that is 100 tons per hour. The plant as it is set up can run around 50 tons per hour I think. It is still early days, but we can already clearly see that with a little planning, and some expanshion to the plant, two thousand tons a day is a very reasonable

[mferguson71]

Set expectations low in my mind and be 100% confident until those expectations are proven wrong consistently. 500 ounces a month, with a margin of $1000 per ounce would give them approx 6 million in free cash flow a year. I like the optimism but let's set expectations on the safe side with dreams on the high side (long term price targets 1-2 years). With production of 100 ounces a month this

[OldGold]

It can pay to be conservative for sure, but I also like to look at what can be achieved... I do like that Richard sends videos showing what is going on. How many companies announce thay are going to do this that or the other and you have no idea if it is happening or not.. 

[mferguson71]

100% agree oldgold. You and I and probably every investor grows in confidence seeing the videos. I was having trouble trying to find producers that produced small amounts of gold. Fiore Gold produced just over 12000 ounces In q3. If we can do 12000 a year just take their market cap of 158 million and divide it by 4 gives you 39.5 million. Current market cap is 3.81 million with a little further

[GoldenEra]

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[OldGold]

Yes GoldenEra, the appointment of such a high profile and experienced geo like Paulo, has completely let the cat out of the bag. How could a company like Valterra attract people like Paulo, and more importantly, Richard Crew, to them without a very clear path for rapid expansion. I know Richard is under pressure to start pumping gold out, but remember he has had to pick up from where the previous

[GoldenEra]

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[OldGold]

Yes GoldenEra, he works like a dog, and loves what he does. I would think he would have done a gold pour by now to test the recovery from the vein material they extracted late last week. Richard will test a few veins before committing his resources as over burden can be expensive to move, He will be wanting to see the best return for investment in both time and money. No guess work, he knows what