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Message: Re: Calgary Meeting (Repost lostinthefog)
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Re: Calgary Meeting

Posted by: lostinthefog on September 27, 2008 07:16PM

In response to: Re: Calgary Meeting by Freedom30

I attended the meeting as well today, and don't have much to add that wasn't covered, except:

1) they expect to run tailings test on Monday at 1,000 T/day. I am not super familiar with mining so I may have misinterpreted this or if it is even material information;

2) they are nominated for two environmental awards, but I missed further detail, sorry;

3)Debt financing is greater than what is expected to be needed based on the present financial model to get to full production;

4)The full daily mining operation of Hart and McWatters could be upwards of 3,000 T/day, the excess above what Redstone can handle could be sent to Xstrata for milling if desired;

5) Groves had up to 5g tonne of iridium, may not be a very material amount but I thought interesting as I never heard this before.

Very positive meeting overall.

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