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Message: Update from Mid-Canada Mineral Show

Update from Mid-Canada Mineral Show

posted on Nov 04, 2008 10:33AM

I went down to the Fairmont to take in the show during my lunch hour, I missed Dale, he was gone to give a speech at 1pm. I did manage to chat with Gestur Kristiannson (hope i spelled that correctly).

Some of the things I heard from him were:

- expects to be cash flow positive in Q1

- mill currently running at 500 tpd 2 weeks on 2 weeks off, should reach steady state by end of 2009. Will process 30,000 tons of ore a month.

- plans to get to Hinge are on track, and some bulk sampling has already started (small amounts)

- slowing down on SG-1 work to concentrate on work at the hinge.

- they are planning to drill a couple of deeper holes in the SG-1 area to see if there is any further mineralization beyond what they already know of.

- 43-101 will be out soon, they are nearing completion



I didn't have time to hang around, because i wanted to hear what the Wildcat people had to say. I will post some info on the off topic forum for that conversation later today.

AK

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