Nice logical way of looking at it. I’m in the same boat, thought...

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nate_85

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07/12/18

13:19

Post #: 36784633
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Originally posted by 82Punter ↑

Originally posted by binwood
No I copped the same flack when I said the auger drill results were poor for Kanuka at 3-4c. Seb93 and a few others told me I was downramping and didn't know what I was talking about.

The thing you have to consider is that transport costs alone from DRC are nearly as much as some other HR projects entire opex. This means mining has to be bloody cheap. You start dropping grades to "average" rather than "outstanding" and any kind of strip ratio past 2:1 and things are going to get tough. It's just the geographical reality in my opinion
The company has always maintained that Kitolo was going to be their best prospect, however, due to their JV partner's proximity of their exisiting mine to Kanuka, they insisted that the drilling program start there.

My point is, there is 2 main areas, Kanuka and Kitolo, that they have drilled. So far the results are in for Kanuka and we're waiting on Kitolo. Once we get Kitolo results in, we'll know where the company has the best opportunity to build up a resource. If Kanuka was all we had, then I'd be thinking differently at this time.

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Nice logical way of looking at it. I’m in the same boat, thought Kanuka results were not that bad but def keen to hold until I see Kitolo results. On a side note, if the price can spike easily on average results then anything decent from kitolo should provide a much healthier SP.

4CE Price at posting: 1.9¢ Sentiment: Hold Disclosure: Held
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Nice logical way of looking at it. I’m in the same boat, thought...

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