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Batch sample. That's a good one. That batch sample was a rock that he found on the side of the road and put his famous magnet pen on it.
Ya, ole Bobby will say anything and people will believe anything as a result of greed.
You also posted this :
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=106851934
You noticed CCIC said " regular sampling", not pick up a piece laying on the ground and saying the whole load is 65%
Low and outside...ball one
Far cry from 65% as claimed by the ole Bobby and the novel writer
so why don't you post the grades in all 4 shipments?
We can discuss it then
The BOL is used as payment against the LC minus 5%. It better be accurate.
The grades are assayed and completed before loading.
That's funny.
Are you saying the BoL was a lie?
Are you saying CWRN lied about the grades to
sell at a lower price?
Are you also saying the second BoL was also a lie?
58% is considered low grade ore. Its not the same price as 62% Fe which you have said hundreds of times.
Even ole Bobby laughs at that term.
So why did you invest in the first place knowing what you know?
Most of the iron ore in Mexico has a sulphur problem. The ore is not homogeneous. You can get sulphur in some parts of the mine and none in other parts.
You can still sell the ore, but at a deep discount. With ore at 80 a tons and not going up much in the future, this mine is in serious doubt. It is not profitable as of today
That is the big problem with Tonogold.
shipping sharks...haven't heard that term in awhile...just like ...what was that term again...oh ya, over the rail or was it under the rail or in between the rail?
on this board some were bandying about as low as 155/ton but cwrn said it was MORE than that and the spot- even allowing for a 10 or more discount would back that up
38524 times 155/ton would be $5,971,220
..what was sold was low grade ore, so discount 10 dollars or more per ton. No steel company buys direct, just thru their own trading company so discount a few dollars and nobody pays spot price.
Its truly funny that whatever ole Bobby sends to these people, its taken as 100% true. and they use these "people" to spread the gospel.
The Chinese have already purchase iron ore from the Mil-ler mining operation....so why don't they continue to purchase?
which are clearly shown in the anomalies that have repeatedly been shown in TNGL press announcement and power points
....so PR and power points makes it real? I have some dirt in my backyard. Does that mean I have lots of gold there?
We also know that there are significant iron ore assets because every mining professional that visits the mine, reports back with endorsements....did those mining professional drill the area to prove a reserve? I didn't think so.
Three drills working 24/7, 375 holes, over 56,000 meters of drilling on just the largest anomaly, at a cost of 4.5 million with a 9 month completion target date
....that is the lowest cost drilling program per meter in the world...kinda like your claim of 48 dollar all in production cost.
When TNGL ramps up production they will also improve the quality/purity of the iron ore to a 61% Fe target, as it clearly states on page 16 of the Tonogold power point. www.tonogold.com/i/pdf/AGM-June-23-2014.pdf ....getting sulphur out of iron ore is not that easy...just ask the other iron miners in Mexico. Seems they can't figure out the problem either. Does Tonogold have some miracle process? Is that why the Chinese are not buying anymore?
I failed to see how you get an all in cost of 48 dollars.
That would be the lowest cost mine in the world by a large margin
So, why aren't they mining and shipping right now?
Something wrong with the ore?
iron ore at 80 dollars a ton is not profitable for this mine or many in the world, especially one with high sulphur.
No matter how you spin it, pump it or bring in billionaires to front it, it will not be profitable
Tonogold's claims are located next to a gold mine and that means what?
Could you explain?
223 gold bearing intercepts (minimum of 0.30 grams/tonne over 3 meters);
Based on those intercepts, the all in cost of production will be higher than the price of gold at the moment.
Who mines gold at less than 1gm per ton? Why bother?
Mexican gov't still looking for tenders for the port expansion?
Has it started the expansion yet? How long will it take?
The drilling results so far indicate that Ponderosa “will provide the feed necessary to sustain a production rate of over 360,000 tonnes of iron ore per annum for at least 5 years.” That comes to at last one million, eight hundred thousand tonnes of iron ore at just two of the anomalies located at the mine site. At an iron ore price of $80 a tone, these anomalies are capable of providing a projected estimate of forty four million, five hundred sixty eight thousand dollars in profits to Tonogold, over five years
Is that assumption before or after a 18% haircut off the top of 58% Fe price which is about 12 dollars below 62% spot price?
Doesn't look good for a profit, if any at all
The tracks are NOT a few feet away from the iron ore property.
The tracks are a few feet away from the POTENTIAL mill site. Will the ore fly from the mine to the mill for free? Is this a beam me up scenario?
Please see PDF and really read it this time to educate yourself.
Correct me if i'm wrong:
1) Tonogold will mine the ore and send it 20km or more by truck, unload it to be crushed and upgraded, loaded again to a row of trains, sent to Guaymas, offloaded again at the laydown yard, trucked from the laydown yard to the loading area then loaded on to the ship to China. Correct?
That's a lot of work for low grade ore?
until then its unproven dirt.
From ole Bobby's LINKEDIN page:
Bob also knows about...
1Mineral Processing....grind the ore to dust and hope for the best
Strategic Planning.... find some claims...and suckers
Geology....use a magnet pen
Negotiation.... that was a recently acquired skill before his prison sentence
Due Diligence....use a magnet pen
New Business Development.... find some more claims in the middle of Mexico...and some more suckers
scam in what sense?
no new cricket stories, lots of ship sightings and lots of reminiscing about the good old days
You clowns really should know better
Know better then claiming a bunch of dirt is one of the biggest iron ore mines in the world?
Know better by saying this company will get top dollar for the ore when its really low grade with a 18% discount off the top.
Know better by deleting comments from posters by saying they are duplicates.
and on and on and on
It may also be a moot point what "brad" thinks or does if iron ore prices stay at these levels.
according to the novel writer, CWRN production cost are 10 per ton. GT says 50. Who is right?
yet they can't raise a few measly millions
50 plus trucking, loading, royalties, etc?
which also means Cotton did not ship CFR, only FOB
taking away 5 dollars royalties, trucking cost of 12, loading cost of 7, production cost of 25 to 30 ( remember the super, super fines....aka dust?, less taxes and 10% skimming off the top....what are you left with? Not much
Who said there was drilling on that 43-101?
It was a technical report on a small area of the claims.
you don't have to drill to get a 43-101
We know that there are significant iron ore assets in the mine because it has already produced with three shipments to China in 2013. The Chinese have already purchase iron ore from the Mil-ler mining operation. Saying that it is unproven dirt is ridiculous.
3 shipments is a mine make? So, why are not shipping now? You claim that this mine is a very low cost producer? Why stop?
You can claim all you want on a PDF file, but it means nothing without drilling and a plan...and most importantly, MONEY.
OK, lets talk about current events
with iron ore prices in the low 80's, does that make the mine economical? If it does, how much profit will there be after skimming 10% off the top, royalties, loading cost, trucking cost and finally what does it cost to produce the super, super fines?
investorshub.advfn.com/boards/read_msg.aspx?message_id=106946490
See Eddie Sugars endorsement here:
http://www.tonogold.com/s/NewsReleases.asp?ReportID=652171&_Type=News-Releases&_Title=Tonogold-To-Acquire-100-Of-Iron-Ore-Project-Mexico
How much was paid to Eddie Sugar to say that? After all, it was TONOGOLD that hired him
We also know that there are significant iron ore assets in the ground from the preliminary magnetic studies; which are clearly shown in the anomalies that have repeatedly been shown in TNGL press announcement and power points.
Geophysics mean nothing. Does not prove reserves.
Improving the purity by removing the Sulfur is a simple process that is added in the milling
What happens if the sulphur is ingrained in the iron. How do you liberate the sulphur? High sulphur requires manganese to counter act the sulphur. That cost money.
Three drills working 24/7, 375 holes, over 56,000 meters of drilling on just the largest anomaly, at a cost of 4.5 million with a 9 month completion target date.
That is the cheapest per meter drilling program I have ever heard of. Nothing even comes close to what they are quoting
Could you explain how the pros plan to market iron ore at a loss?
Do shareholders know that?
These claims were
made utilizing aerial
magnetometer survey
maps provided by the
Mexican Geological Service
(using data gathered by the
United Nations) and following
field observations by our
personnel using GPS,
which proved that the majority
of the major magnetic anomalies
(>500nT as shown on right) on the
maps did indeed correspond to easily
observable outcropping veins of
Magnetite. After independent laboratory
analysis of the samples gathered showed
extremely high Iron content, we embarked
on an aggressive staking and claiming
program, which included areas showing
high concentrations of (non magnetic)
Hematite but ignored areas with potential
environmental, social or political barriers
to mining
Translated: no drilling...ie same method as Cotton in NOT proving reserves. Did they use magnet pens? Nothing has been done to prove its economical to mine. Maybe that's why Arcelor walked away
should we send that picture to mexican immigration?
They began production last month
Why do you ask?
http://www.baffinland.com/uncategorized/baffinland-begins-mining-iron-ore/?lang=en
The Mary River Project is located on northern Baffin Island, in the Territory of Nunavut in the Canadian Arctic. It is considered one of the best iron ore projects in development in the world with an ore grade of approximately 67%. Due to the quality of the ore, no processing is required before shipping it to market,
They are actually shipping 67% Fe, not a few samples picked up with a magnet pen.
Wow, operating a mine in the arctic over Mexico!!!!!
How are shipments out of MX going? Its much better then CWRN at the moment.
•TNGL now owns 100% of one of the largest iron ore mining projects in the world, at approximately 135 square miles. This mine went into production with three shipments of iron ore to China in 2013.
Does that mean Ted Turner also owns one of the largest iron ore mines in the world with his ranch in Montana? After all, its dirt until proven. Oh ya, TNGL has proven nothing expect having low grade ore with high sulphur that has to be discounted 18% off the top.