ATN 0.00% 0.2¢ ashburton minerals limited

no -no -not for my money !!

  1. 1,978 Posts.
    I have noted comment on ATN and read Grigors report. Thanks Carls. All due respect I don't think this stock would be a favoured runner even if gold bolted. Firstly the oxide ore is too low grade -one slip with equipment failure and you're gone. It is instructive how far mining and milling costs have come down over the years to be able to treat that grade of ore profitably -but it is near the bottom end of the curve despite the low strip ratio. Secondly the higher grade sulphides are a big gamble -you can pick up the Northcote mine with similar problems west of Mareeba from JAK for a song at twice the grade !! You are gambling purely on ATN finding more higher grade oxide ore or selling the plant - because on the face of it they will battle along barely profitable with little money anyway to put into exploration unless the market runs hard. Much better specs out there with good orebodies in my opinion. If your holding has cost you nothing then I would still be switching horses. Grade is always king except for some low grade miners who have the expertise to make it work -but few and far between.
 
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