Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Nora NXI on ME -- Ignore unavailable to you. Want to Upgrade?

To: Hesham El-Adly who wrote (203)	5/21/1998 12:27:00 PM
From: John Stella	Respond to of 420

Hesham, Let me start off by saying that the plant is operating well and production is increasing steadily. Our average price is approx. $110.00USD per carat. Your calculations concerning production have to take into consideration the average grade of the stones. We know that the whole coastline is mineralised, however some areas contain larger stones vs areas with smaller stones, Jammerbucht seems to be an area with smaller stones. Based on that, much more gravel has to be treated to recover the same quantity of carats that in areas with larger stones. To increase the tonnage of gravel treated we have added an additional 1/2 shift per day, the plant is now operating 15/hrs per day compared to 10/hrs per day. Concerning the off-shore production, no extrapolations can be made at this time, the only reason being is that presently we have a few sub-contractors working with very small boats. They are at the mercy of the sea, they only go out when the sea is calm, approx. 7-10 days per month. This will change dramatically with the implementation of the "creepy-crawler". It has been designed to operate in rough conditions, and will immediately be placed in the bay areas, where diamonds tend to be in higher concentrations. Regards, John