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Gold/Mining/Energy : NDT VENTURES
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To: Claude Cormier who wrote (924)1/4/2001 7:58:31 AM
From: russwinter  Read Replies (1) of 992
 
Terrain looks pretty good. Nice flat area right at the bottom of the knobby. At least they don't have any trees to worry about. <g>

Great discourse on a mining project folks. Anybody who reads this should get credits for "Mining 202". I'd like to see this more often on the threads.

In summary I think I'm hearing this from the NDEmiesters about Antanas chance to be economic:
1. Recovery needs to be at least 80%, maybe closer to 85%? Evidence so far: promising.
2. Further confirmation of $9-$10 rock near surface. evidence so far: very good, confirms surface samples with wide intercepts. Hole 3 is very impressive. To expand deposit more confirmation of $15 plus rock just below the near surface intercepts such as seen in 9's second interval of 40m of 1.96g. Evidence so far: generally OK, but holes like 10, 11, 15, and 16 appear to have high stripping ratios relative to grades.
3. Expansion and enhancement to the southeast? To be determined.

Conclusion so far IMO: Just don't see a 100-125 cash cost project here without a series of holes like 3, but maybe 140-160? Unfortunately the market values (incorrectly IMO) such deposits in the low single digits/oz and NDE has a payment to make for those ounces, which is a factor here. Right now though NDE trades for virtually no premium over cash. Fundamentally quite inexpensive play.
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