MRC 0.00% 2.2¢ mineral commodities ltd

Omelette, That's a question that no one could really answer....

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    Omelette,

    That's a question that no one could really answer. This deposit is the only one of it's kind in the world, it replenishes on tidal movements. The company has provided JORC measurements, which in reality are flawed. JORC only allows you to measure an area once. The company has clearly stated they have mined areas more than 10 times and will probably mine those areas another 20 times.


    Here are three excerpts from the Annual Report worth noting:

    "The Company initiated an aerial survey of the entire Tormin beach deposit, targeted to determine resource changes over the entire mining area, volumetrically. This will allow the Company to better understand and quantify the total beach deposition tonnages, grade, and its exact location of deposition."

    It's a good move. Analysts want JORC, but everyone knows it doesn't work in this instance. They pretty much need to peg it, drill/sample it and measure it volumetrically.



    _______________________________________________________________


    "Since commencement, the Company has mined in excess of 4.5 million tonnes which represents almost 60% more than the stated original Indicated Resource. The Heavy Mineral (“HM”) grade has been higher than the original stated resource grade in every year of operation."

    "Given the unique placer beach dynamic of the deposit, the Company is unable to determine with certainty the exact replenishment cycle in terms of quantity and grade. However, it should be noted that both grade and replenishment has consistently been evidenced by historical mining and processing information."

    JORC - uselsess.

    _______________________________________________________________

    This should be worth noting:

    "The Company is confident that with the grant of additional identified onshore and northern beach mining and prospecting areas currently under application, that the additional mining areas will allow the current beach mining areas to replenish."

    They effectively are only mining a couple of kilometres of their deposit, they just need more beach area.
    _______________________________________________________________


    I hope that covers it.



    Pep
 
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