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Gold/Mining/Energy : A to Z Junior Mining Research Site
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To: Elizabeth Andrews who wrote (286)6/23/2002 8:31:58 PM
From: E. Charters  Read Replies (1) of 5423
 
NGX management said in public when questioned not that Stealth was a POS but that they would not commit as to what their interest in the property or the company was. This sort of tells you that either they are not interested or whatever their interest is, it is not aligned with Stealth's.

My reading of the property according to Stealth's own conclusions, which because of the low grade assay problem may not be correct, is that their property is significantly lower grade, perhaps by 4 or 5 dollars at good copper and gold prices.

The assays may be weak in execution, but that may be no weaker than the milling technique, which we have seen at Highland Valley left loads in the tails. The recovery at HL could have been no more than 60%! This is because of the "nugget effect" in copper-bornite, slipping through the flotation because of oxidation. This same problem now partially licked by Northgate plagused Kemess. (More cpy than bornite here but the principle is the same.)

The trouble with Stealth is they need to mill it on their own, with better prices and with better technology, which they cannot afford to do. If they could concentrate, leach the copper and then leach the gold, they could afford to operate. But its a teeth grinder cost wise. Northgate with uncertainty of return on a 2nd party property that is not rich will hold off until Stealth is on its knees and the deal looks golden.

EC<:-}
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