Member Info for richam

I don't think they will report anything close to a breakthrough for the June quarter. A couple weeks ago they said they continued to experience "difficulties" which clearly indicates to me the spring shutdowns didn't resolve all issues. It is important to understand the plant won't be able to reach nameplate capacity before ALL sections perform to specs at the same time. You might have seen photos showing many white bags stored almost everywhere on the site. I believe that was intermediate material waiting to be fed into the kiln. In the last quarterly it had been reported that the kiln did not perform to specs. During July 11-13 the plant was shut down for maintenance. Although I don't know what components have been replaced, I am curious to learn whether or not these changes yield significant performance improvements. The July shutdown was unrelated to the klin though since it continued to run during these days. Accordingly, some of the material waiting to be processed should have disappeared by now. One underperforming section will limit overall output even with all others running at 100%.

It is obvious by your posting you missed class when investing 101 was tought. The project's value is market cap plus debt less cash. When you pay 500.000 Pounds in cash and assume a mortgage of another 200.000 Pounds the value you apply to the house is 700.000 Pounds, isn't it? Accordingly, the value applied to Drakelands by the market is market cap (the cash you pay) PLUS debt (the mortgage). And BTW, overall debt is much higher than what you mentioned.

Northcliff receives federal approval for Sisson project 2017-06-23 14:42 ET - News Release Mr. Chris Zahovskis reports POSITIVE FEDERAL ENVIRONMENTAL ASSESSMENT DECISION -- SISSON MINE PROJECT The federal cabinet has approved Northcliff Resources Ltd.'s Sisson tungsten and molybdenum mine project after a rigorous federal environmental assessment under the Canadian Environmental Assessment Act (CEAA). The Minister of Fisheries, Oceans and the Canadian Coast Guard, Dominic LeBlanc, who recommended approval of the project, was quoted in a news release by the New Brunswick government: "The Sisson project will bring about significant new economic opportunities to the people of New Brunswick. During construction and operations, it will create jobs and generate business opportunities for indigenous peoples and nearby communities. This project will also help rejuvenate New Brunswick's mining industry and add a source of tungsten to Canada's mineral production." Northcliff president and chief executive officer Chris Zahovskis said: "Successful completion of the environmental assessment process is an important milestone in the development of the Sisson mine. The decision reinforces the thoroughness of the environmental assessment submitted by the Sisson partnership, reflecting our commitment to create a project that will bring economic benefits to New Brunswick while protecting the environment. Our focus now will be on securing offtake and financing to advance the project." Documentation related to CEAA review process for the Sisson mine project, including the decision statement and the environmental assessment report, can be accessed from the Canadian Environmental Assessment Registry website. About Northcliff Resources Ltd. Northcliff, associated with Hunter Dickinson Inc., is a mineral resource company focused on advancing the Sisson tungsten-molybdenum project located in New Brunswick, Canada, to production. The results of a 2013 feasibility study confirm that the Sisson project is technically and economically feasible and can now move on to the next stage of development. About the Sisson partnership The Sisson partnership, owned by Northcliff and Todd Minerals Ltd., a subsidiary of the family-owned Todd Corp., is responsible for the development of the Sisson project. Sisson Mines Ltd. Is the operating entity of the Sisson partnership.