Member Info for ryn82

GEO already have a mining licence for the next 29 years! We do not need to apply for one!

anyone looked at potential spare capacity at Madneuli / Quartzite? heres a few links hTTp://minerals.usgs.gov/minerals/pubs/country/2013/myb3-2013-gg.pdf hTTp://www.geopromining.com/en/gpm-in-the-media/going-for-gold/ hTTp://www.investingeorgia.org/en/agency/news-events/news/quartzite-1667.page

you must be right then. NMG should of gone ahead with the small starter pits and ignored the potential 70mt resource? it should have gone ahead with a tiny operation instead of looking at putting a much much larger asset into production? how does that make sense?

how panda and andy are working in tandem....no?

more depseration - too obvious

sounding a bit desperate. Many directors hold positions on many many companies.

its about solidifying the business relationship with the JV partner. Yes Martyn has worked in Georgia for a number of years and that is why the JV partner was willing to work with Martyn and NMG. Its a process as it always is in business. Build the trust, earn an option, show them what you can do, sign a business deal. Pretty simple. Where do you think deals come from???? there is always a subsidairy with assets in that companies buy to take a stake in something. Its normal business. Protects both sides of the transactions! So no, no change of structure, just a change in the registered interests in an asset. Which is what it is. I have spoken to a few people who are very close to this project. Hows your armchair and keyboard?

The reason why NMg have this opp is clear. The russian JV partner has a requirement to employ local employees. By JV'ing with NMG they by pass this rule as then NMG can dictate who is employed. All business. The JV partner has ot just handed this over to NMG. NMG have had to earn the JV partner respect and trust. Martyn Churchouse has been out in Georgia for many years now building that trust up. The starter pits were designed as an oppurtunity to show the JV partner what NMG can do and then the JV partner would open up the resource licences more to NMG if they are happy. The JV partner is extremely happy and NMG are far exceeding what they hoped - hence the addition of the David Garedji Mine to the NMG stable. The ceo of the JV partner is actually a very wealthy retail magnate and is not so much up to verse in mining. He has had to rely on the Georgian workforce prior to NMG. To give you an insight into how things were bieng worked, NMG looked at the data prepared by them so far and quickly identified several below average practices. For instance the IP units bieng used were actually farm grade and only scanned to a depth of 40 meters. They therefore didnt know much beyond 40 meters. When assaying they were assaying for only one target mineral. Totally missing some minerals. Copper gets mined comercialy in Georgia for much less than a 1% grade. DYOR!!! spouting random rubbish

is an expensive place to mine and the austrian assets are further away from production than the georgian assets. The austrian assets are still there but need a lot more cash to get to production. Would you rather they kept with the austrian assets and have to raise a hell of a lot of more money to get to production than it would georgia?

The starter pits are exactly that and small in nature. The drilling around these sites has shown that the resource could be 70mt, at 1% copper thats $3.3bn. If the starter pits went ahead now we could not evaluate and draw a plan up for this resource and we would have to stop production later on to do it. Its a case of lining up the ducks with this one. The starter pits are lower on the hill where we need to undertake the extra work to evaluate what NMG think they have found. It will only hold back production for a few months and allow for a much larger production area to be brought forward. It is in the best interest of the shareholders.

NMG are transforming lead by Martyn Churchouse. I am not going to argue with you. I have invested based on my research. Go ahead keep banging on. Worthless holes pmsl! Time will tell. Do you know much about resources and valuation curve? Geniune question? There are obvious reasons why Austria has been shelved for now. There are obvious reasons why Georgia is the focus of NMG and its obvious why production has been delayed.

so much hatred from some posters here. Never mind chaps! move on! If you dont like what you see go and invest elsewhere. This is going to surprise a lot of angry pesimistic posters.

its not that the gold is not commercial grade and the cost is quite clearly said to be $600 although they envisage the actual to be lower. The resource statement has not been released for a simple reason - when they were drilling they 'unexpectedly' identified a larger amount of resource. So yes a bit more drilling and maybe a few months delay. All very well bleating in here and to be honest your points are valid. Speak to the company and you will be surprised.

When the Georgian asset oppurtunity came to NMG they put Austria on the back burner as it is an exploration asset that requires a significant amount of time and money. Georgia came along with minimal CAPEX requirement and was significantly more mature. The original plan was to produce from small starter pits. The drilling of the starter pits has shown a much more significant development is both possible and more value acretive. The 70mt for the 1 of 17 targets could be worth around $3.3bn. The grades so far are 3 times that of the Jv partner and they are extremely happy. Yes production pushed back a few months but look at the bigger picture. For me it's only shareholders (and for that matter some ex shareholders who have lost money) who have invested in NMG for the short term are unhappy. Look at the drill results and the targets and the fact that there are many other resource targets for NMG. Also the David Garedji mine at 450k oz gold which only covers somewhere in the region of 10% of the licence area and strike length. The thing with Georgia is the JV partner - they are going to use their plant to process the ores and this is key. Only capex here is the drilling and the OPEX comes in at most $600 per oz. NMG here are proving up a mining province right now. Some are more interested in arguing rather than realise the value in these assets. Imo this is bieng set up for a sell out in the next 9-12 months. Prove the huge huge resources, then produce to prove the concept and it will be sold for hundreds of millions. Look into the reasons why this JV is so attractive for both parties. Gla

As for selective you would know all about that, as well than bearing grudges lol.

We will see, q3 is not far away and neither is q4 for that matter. Let's see what transpires. I've done my research and I'm happy with it. An update is not far away so we shall see

You don't care, but you carry on posting a load of BS lol

ok we should believe you over and above what the BOD say right? You obviously know better.

Greg says 12 weeks in the podcast / interview and with second starter pit in q4 2016 and hopefully thurs starter pit which is copper by end of year. DYOR

I'll dig a few links out tomo but the ceo said 12 weeks on his interview last seek