Recent Chat Shack Questions and Answers:
April 17, 2007
Q: I have seen no reports of deliveries of moly
concentrate since the 3rd shipment on Feb. 22nd. Is there a problem with the product not being up to standards, or drilling problems , etc? Are there difficulties resulting in the delay in shipments? - M.W.
A: To the contrary, following rigorous metallurgical work in March, the product being produced is well within specifications as to moly content and copper suppression. The mine and mill continue to operate.
It should be explained that, in our ongoing effort to comply with SEC standards, we are adjusting our reporting protocols. Sarbanes Oxley rules are being observed in our communication processes, which can affect the frequency and nature of our reports. We are reviewing these protocols now, and will establish a methodology for reporting sales, and all website updates, in the near future. Until then, we will continue to produce and sell product.
Q: Past statements indicated the purchase of the Northern Champion property. However, your website does not have any information on this property. Please advise on the status of this property and what is planned for it. - M.B.
A: Northern Champion is an historic moly mine located in central Ontario. It has an NI 43-101 study showing reserves and resource of about half a million pounds of molybdenum, occuring often in crystaline form near the surface. The website will be developed this spring, as weather permits us to start work on the property. Some exploration work has been initiated in the past, and more is planned for the future. Once the Ashdown project is ramped, the Company hopes to direct resources to Northern Champion, and accelerate its evolution during 2007. |
