News - Don't Bother, I Got This

The company is announcing that it will ship concentrate rather than ore.

Note that this is the configuration of the mill at the Star Lake mine, where the concentrate goes through a pipeline to the Jolu Mill. An ore grinding concentration mill is in operation at the Star Lake mine which does just that.

That's what this thing is: http://binged.it/1S7xQeH

They also made an important discovery at the Star Lake and Jolu mines, setting aside the Komis(like Dome) and Tower/Phantom(like Meliadine) because what they have is too important. Even though they spent millions on drilling off the properties and tens of thousands of metres of drill core, the Jolu and Star Lake mines are WAY more important.

The engineering report was completed January 2014 or before and has not been produced in a timely fashion. They are lying.

Curious though that after settling a ~$60m. marketable security at the end of calendar 2013, or Q3 fiscal 2014, suddenly they announce an operational shut down. I think the money that was raised during this capital raise comprised a swap of 130k ozs. for an amount equivalent to the accumulated deficit(retained earnings), some $172m. The $60m. was merely at 'cost', only 25% of the actual return.

Therefore they require no capital to expand the project, because it's already been raised. It's been sitting in an account for over a year. They also decided to put Komis and Tower on standby as their exploration and development of Star Lake and Jolu mines were better than expected. They drew ore from stockpiles since January 2014, and are still drawing ore, all of it out of Roy Lloyd, and some of it out of Jolu and Star Lake.

The bulk of the accumulated deficit was employed expanding the Jolu and Star Lake mines mostly underground exploration and development and some ore. All of the necessary ore for the purposes of development came out of the Roy Lloyd mine, meaning it's a very robust mine.

But this is all something they've been trying to keep secret.

-F6