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1.1¢ pioneer resources limited

Until it is clear what we can sell the 140,000 tons we have...

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693 Posts.

132

07/02/19

15:43

Post #: 37365340
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Originally posted by w27: ↑

The microcline seems to have dropped off the radar. I believe that the most improtant task for PIO in the short term is to market the microcline in stockpile. We have about 140,000 tonne in stockpile and it is an in-demand mineral. Cash is king and if we can convert this to cash we will be in an excellent position to advance other projects. Also we have an "exploration target" of 700,000 to 900,0000 tonnes within the existing Sinclair lease, available for immediate mining. This is the asset most easily converted to near term cash, and quite a bit of it. This does not preclude exploration for pollucite and other mineals at the Pioneer Dome or cobalt/nickel at Blair Dome.

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Until it is clear what we can sell the 140,000 tons we have already dug up (and is essentially free carried), I doubt if DC can calculate whether it is profitable to dig up any more. We would still have to dig, crush and transport it. At $50 USD per ton, that might be a marginal exercise. At $100 USD per ton, it might be profitable.
Looks like we will have to wait and see.........

PIO Price at posting: 1.7¢ Sentiment: Hold Disclosure: Held
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