re: Ann: 59.6% Manganese intersected near sur...
Manganese:
Just something on pricing. At $3.94 (see below) a tonne of manganese ore at 55% is worth $216.70. That is roughly the same as 4 g/t gold (4 multiplied by $A1600 but change g/t to ozs = $206).
Drawing the bow a bit further their map shows continuous mineralisation over 200m x 200m (and open). At 20m width and high SG 4, that is 200x200x20x4 = 3.2 million tonnes already. If that was gold it would be >400,000 ozs sitting at surface.
Of course there is a long way to go - Is it a saleable product? are there deleterious elements - phosphorous? lead? What is the lump to fine ratio? (the core picture looked pretty good.
But still, definitely worth spending some money on.
from - http://www.metalbulletin.com/Article/3131686/MANGANESE-ORE-INDEX-Prices-rise-on-consumer-demand-low-stocks.html
MANGANESE ORE INDEX: Prices rise on consumer demand, low stocks
December 14, 2012 - 14:00 GMT Location: London
KEYWORDS: manganese ore , China , South Africa , Metal Bulletin
Manganese ore prices rose on Friday December 14 on a wave of buying and expectations of rising prices in the first quarter of 2013 amid tight availability.
“There’s low inventory, more demand and producers are already well-sold,” a trader told Metal Bulletin. Metal Bulletin’s index price for 38% manganese ore fob South Africa rose to $3.94 per mtu, compared with
ROL Price at posting:
28.5¢ Sentiment: LT Buy Disclosure: Held
