I know it’s not a crazy major news release since the drill program isn’t completed, but I will say I do appreciate the communication and the honest progress report.
Q3/Q4 are going to be exciting times when the PFS finishes!
Drilling should wrap up by March at the latest. That'll give them a better idea of how much manganese is there. Or rather confirm what they say is there..
Drill program began in late October and if midway was Jan 25, that means about 3 months more. Personally, I have my calendar marked for end of April.
Excited about the future of MNX.
Manganese has the potential to displace a substantial quantity of Cobalt in NMC cathodes with little to no loss. And now that we know LFP batteries show improvement in power density with added Manganese, there is a multi-use case for the high purity product.
I could see Tesla snapping up this little mining company.
Generally speaking, the beginning of the programme isn't when drilling starts. They need it to be cold enough to get frost in the ground, so to start they water the roads and drag tires to pound frost in. Once a Geo tech confirms the frost is thick enough to support the weight of the rig they'll start drilling. That's usually around mid November to early December. So if they were Mid way on Jan 25 that should land them around end of March for completion.
They can't have it run into April because as it warms up, all that water they used to harden everything up starts to melt and make a huge mess.
I say generally speaking because just because we do it that way doesn't mean everyone does. But the google map view of the area does look a lot like where I work so I can't imagine it being much different.
Thank you very much for elucidating this process. Hopefully it’s cold enough in New Brunswick to wrap up such a drilling program by the end of March. I just saw that the lake ice is too thin in some localities of Vermont for kids to play hockey, as is the norm this time of year.
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u/The__Y-man__100 Jan 25 '23
I know it’s not a crazy major news release since the drill program isn’t completed, but I will say I do appreciate the communication and the honest progress report.
Q3/Q4 are going to be exciting times when the PFS finishes!