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@ocotilloredux Callinex $CNX and $HBM have never gotten along in the past and I think it was due to bad blood going all the way back to the Trout Lake discovery days.
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from ~zinc,
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@ocotilloredux If Kerrisdale did, I would write a report the next day to make them look silly.
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from #nxe,
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@ocotilloredux After buying a few shares of course.
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from #nxe,
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@speculator @ocotilloredux ... ive never heard of kerrisdale capital until now "pardon my ignorance" i just googled, and seen they anouced that they shorted $NAK a couple days ago. Is this their MO ? Have you had past experiences with them personally ? Nice to see you on the board today
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from #nxe,
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@ocotilloredux @Rulingmining Watched the video. I did not hear the word uranium once.
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from #ggg.ax,
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@ocotilloredux Module 11 Zinc Mining in Kazakhstan. http://docdro.id/8qgXY1Z Not much excitement here, just a bunch of tired mines. #zinc
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from ~zinc,
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anonymous @ocotilloredux Nice disclosure...;-)
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@ocotilloredux @evenPrime 350 mlb at 2.4%. Much of the drilling was infill meant to convert inferred to indicated only.
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from #nxe,
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@ocotilloredux Interesting dilemma though. Indicated will be 3-4 times the grade of inferred and the PFS will be based on indicated only since it is all that is bankable particularly if they push for an NYSE listing. This will steer the mine design towards mining and handling methods that will require extensive radiation shielding.
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from #nxe,
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@ocotilloredux Design a mill for 20 mlb/year but operate at 15. The remaining 5 is for upside when inferred is converted or custom milling of PLS. The point being, all environmental approvals are in place for 20.
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from #nxe,
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@ocotilloredux Mine development in the ore will be very slow due to radiation and graphite so this is not a typical hard rock situation.
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from #nxe,
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@bernardshaw @ocotilloredux. I tried to get my feeble mind around the dilemma regarding how many more pounds will come out in RE2. The basics are (1) Indicated can only come from where the drill density is 25m or thereabouts (2) The target for this drilling density was the A2HG as defined by RE1 (3) This targeting would have caused some of the A1 to have been infilled to 25m (4) the shells exhibited for late 2016 were two-three-four times larger volume than those used for RE1 (5) only one of the 7 holes used for RE1 A2HG had two separate HG intersections compared to 5 of the 35 to be used for RE2. (6) True width of the RE1 A2HG domain was 3.13m compared to 8+/-1 for the true width observed by plotting the drill holes (7) Average grade of the 35 holes is just marginally less than the 7 used for RE1. The punch line is I think we are in for a delightful electric shock bordering on orgasmic before the end of March.
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from #nxe,
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@bernardshaw @ocotilloredux. I calculate Indicated grade at 10.5% and Inferred grade at 1.7%; the latter depends a lot on some higher grades in A3 and A1 lenses so is more or less a guess +/- 0.3%. I've done a lot of homework but can't accurately plot the drill holes because I don't have the downhole survey date..makes a big difference.
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from #nxe,
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@EpsteinResearch @ocotilloredux, Sir, if as you say, much of the drilling was infill, meant to convert Inferred to Indicated, why would the overall grade fall in RE2 from the 2.63% in maiden resource? I mean, wouldn't some or a lot of the infill drilling done have been on higher grade zones? $NXE Thank you.
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from #index,
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@ocotilloredux The key word is "much". In-fill does not necessarily change the grade of A2, in fact it should not. It just gives you more confidence. So the overall grade drops due to more A1, A3 in the mix using the same cut off assumptions as before.
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from #nxe,
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@Allan @ocotilloredux, what do you think the cutoff grade would need to be with current uranium prices and let's say notch the uranium price up to $50 a pound what would it be? What is the sense of increasing resource if a lot of it wouldn't make it into the mine plans? Or do you think the 350 mlb has a realistic chance of being mined?
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from #index,
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@ocotilloredux Recall that the A2 high grade is not a discrete zone, it is the core of the zone with lower grades on either side. From a mining perspective the reserve cut off should likely be in the 0.2% range (start the show with 0.5% for payback) but the resource cut off may be 0.1%. So the resource cut-off grade plays a major role here in both pounds and grade.
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from #nxe,
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@ocotilloredux @allan Site cash costs will be around $15/lb. so you need 4 pounds a tonne or 0.2%.
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@ocotilloredux @Allan That's a cut off. Average grades at that cut-off will likely be north of 2% with a healthly mix of high grade and low grade mining happening.
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@Slmjr I meant to ask you. What is your opinion on what uex is doing at Christie lake?
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@ocotilloredux @Slmjr I have only taken a brief look at it, not enough to pass judgement. I was not familiar with it until I realized it was the old PNC (Japanese) discovery at Yalowega Lake. Incredible fishing in that lake. We used to fly over their camp coming in for a landing at McArthur River in the mid-90's. I saw the mention of "unconformity style" which means it is likely water bearing so ground freezing is likely required. Basement hosted like Arrow or Eagle Point is much less hassle.
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@Slmjr Good to know thank-you. Never thought about the freezing. Maybe a fishing trip is in order then. Appreciate the response.
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@ocotilloredux  
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@ocotilloredux @slmjr I like Roger the CEO, we got along well when I worked at Cameco. Yalowega is a restricted lake. They let the natives in there about every 4 years to take out a load by netting below the ice in the winter, mostly whitefish, but the province was so worried about the miners cleaning this lake out we had to gate it off around 1997. They would not even allow us to fix up the road until we took Roy Romanow, the Premier at the time, into the lodge there about 1995. We got a mysterious fax the next week, can't recall from who, the local Conservation Officer I think, stating we had permission to upgrade the road. Roy was always in our back pocket since the province was our largest shareholder at the time but had to appear impartial.
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@ocotilloredux @bernardshaw Item 6) I kept a primitive model going up to RE1 using the longitudinal polygonal method, being a primitive mining engineer, and the true width of A2 high grade was much higher than the 3.13m you state. Off hand I would put it around 6-7m from RE1 but have not followed the intercepts since then. Dips flatten out with depth. My RE1 estimate using the longitudinal polygon method was 189 compared to 201. My 350 is pure spitballing since I did not keep the model up. I was golfing instead.
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from #nxe,
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@SASKEXPRESS Of interest? Sure. But no one expects 3.2 million pounds out of Arrow per year. They're likely to be pulling 10 million plus pounds out of the A2 high grade. I don't have the time this minute to go back to his post from last fall but a nice summary of proposed mine for Arrow was put together and makes for good reading by @ocotilloredux
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from #nxe,
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@ocotilloredux Not sure if I understand you @SASKEXPRESS. I would design Arrow for 15 million pounds a year. Trust me, there is more info available on Arrow mineralization distribution than when I committed, as Chief Mine Engineer, to 18 million pounds a year at McArthur River and delivered the goods.
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from #nxe,
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@SASKEXPRESS @ocotilloredux I was running around and in a rush but was responding to a comment from @Gamblor about high grade versus lower grade. Didn't mean for it to come off that I was responding to your commentary, which incidentally I always thoroughly enjoy.
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from #nxe,
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@ocotilloredux @slmjr Romanow snored so badly he kept Alan Blakeney and the rest of us up that weekend. We put another six rooms on the lodge with good sound insulation the next summer. The lodge ended up making Cameco a lot of money since we used to fly customers in from all over the world and they would come in private jets, even from Japan, and sign major contracts after a day of fishing and 18 year old single malt scotch. We had the best chef in the province cooking dinner. I was the mine super at the time and I always got a laugh when at the morning production meeting with the crews I would ask for three fishing guides for the weekend. The hands would shoot up, but I was always blind to my best raisebore operators.
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@Slmjr Hahaha I've always been amazed at what a day of fishing can do for people. It's amazing how few people in the world actually get an opportunity like that.
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@BruceWayne Might have got the name wrong but referring to @ocotilloredux posts from yesterday about total lbs being just under 400MM lbs
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from #nxe,
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@EvenPrime [[Nxegen RE2 Pool]] $NXE updated Feb 22 https://astronomerb.github.io/CEOtable/re2.html Quick Stats: -42 people - Avg. 473Mlbs @ 2.33% - Std. Dev : 70.25 - Range(68.2%): 402Mlbs to 542Mlbs Check out Wisdom of the Crowd Theory ( https://en.wikipedia.org/wiki/Wisdom_of_the_crowd ) - The ol Jelly Bean counting contest theory. ~ that equates to about $4.40/share if we use today's spot price @10% https://astronomerb.github.io/CEOtable/re2.html @Alockett @EvenPrime @poolman @mtlzoom @wolff @Speedin @Searunner @PhotoJ @hunter @Prospectordude @DJS @Aett258 @pinnsvin @sawxman @Rulingmining @Chase @cole119 @A4Vol @gt @JKMD43 @trex @OnlyFlaws @colinjoe @Redman @Mike86 @TSXminer @kidcanada @jtb @Aaron @RedsoxFan @B1984 @Treb @chip @rutgerz @m00tpoint @EricTheActor @RocketRed @ocotilloredux @Ty @bernardshaw @thegalvanizer @elsalvador DISCLAIMER: THIS STOCKPICKING CONTEST IS PROVIDED FOR ENTERTAINMENT PURPOSES ONLY, AND IS NOT INTENDED TO BE INVESTMENT ADVICE OF ANY KIND, AND ALL USERS OF THIS WEBSITE ARE ENCOURAGED TO DO THEIR OWN DUE DILIGENCE. ***If you are interested in joining in the pool just write your Mlbs and Grade% guess and tag my name in it so I can easily locate it. Ex: [GarrettA] my guess is 800.9Mlbs @ 1.99% - @EvenPrime :)
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from #index,
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@ocotilloredux Told you guys to stay away from this zombie at the start of the month.
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from #kat,
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@PamplonaTrader @ocotilloredux. And then it tripled in three weeks.
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from #kat,
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@Pon @ocotilloredux Just sell your zombie before it grows too fat and bites lol
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from #kat,
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@ocotilloredux Have fun with that.
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from #kat,
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@ocotilloredux @mtlzoom Just off the top of my head, McArthur River strike length of mineralization is over 1.5 km, Eagle Point 2 km and Ace/Fay/Verna 4-5 km. Mineralization zones are patchy along those strike lengths for various reasons but it looks like Arrow is shaping up to be in the same leagues.
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from #nxe,
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@mtlzoom good to know thanks @ocotilloredux Your input is second to none!
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from #nxe,
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@ocotilloredux For you young pups who never heard of Ace/Fay/Verna http://publications.gov.sk.ca/documents/310/91902-SOI2012V2_A3.pdf Key lake essentially put it out of business in the early 80's. Some of my classmates spent their summers there.
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from #nxe,
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@ocotilloredux It went down over 1200 m if I recall correctly.
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from #nxe,
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@TSXminer @ocotilloredux - Yep. hard to make money mining less than half a percent at 1200 m.
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from #nxe,
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@SASKEXPRESS @ocotilloredux Was key lake the reason Uranium City more or less became a ghost town? I've never really considered the context behind that event. Just curious.
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from #nxe,
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@ocotilloredux @SASKEXPRESS Key Lake and low U prices at the time shut it down. It was described to me as chasing needles in a haystack. Mind you Key Lake was likely the cause of low U prices.
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from #nxe,
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@ocotilloredux Good to hear on the TC's and payables. They need to get rid of that 85% nonsense and be more like their copper cousins. Call it 95%. Also, they should push for higher silver payout and get indium on the table as payable where recovered.
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from ~zinc,
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@ocotilloredux Standard is (or was!) 3 oz deduction and then 70% payable. Absolute highway robbery. That is why you need the lead along for the ride since the silver will report there where it is more like 1.5 oz deduction with 95% payable. Smelter terms are a key reason Rio Tinto and BHP abandoned the business.
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from ~zinc,
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@ocotilloredux Fortunately it is almost always associated with galena.
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from ~zinc,
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@ocotilloredux I believe so. Few recover it at the smelter though.
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from ~zinc,
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@ocotilloredux @TheGalvanizer And the 100,000 t/y increase is largely due to Antamina switching the mill back to a copper-zinc run which the world knew about already.
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from #zinc,
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wannabeinvestor @Ocotilloredux, you were spot on re $NSU. I'd like buy a big chunk of this just because of Timok, but I'd like it to sell off to levels where it opened this AM.
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from #nsu,