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Gold/Mining/Energy : Inventus Mining Corp - IVS
GNGXF 0.1240.0%Nov 24 4:00 PM EST

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From: molee10/14/2019 11:19:15 AM
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If you haven't seen this on Stockhouse , an "explanation" per se ...

The problem is milling

Inventus is in limbo until they have a reasonable cost-effective solution to process their ore.

Inventus' ore has pyrite in it which is acid-generating. As such the Black Fox Mill can't take the ore. They took the first 1,000 tonne bulk sample as a favor. We need a gravity and flotation circuit in place to reduce the sulfide. The testing Inventus did earlier (see July 9, 2019 PR) resulted in <.05% sulfide which is not acid producing. Unfortunately, Black Fox doesn't have a gravity and flotation circuit in place. Other mills with the circuit are either too far away to ship ore or are unreasonably expensive. The company is working with the Black Fox Mill to come up with a solution. Given McEwen's interest in Inventus, hopefully they can come up with a solution.

It's not that the company is doing anything wrong, they're in a bind that they're trying to work through. Unfortunately, shareholders have to wait until this problem is resolved.
The reason is both cost and tailings. The black fox mill (BFM) has net neutral tailings and since our ore has pyrite in it, it would be acid generating. They took the 1st 1,000 tonne bulk sample as a favor. Many deposits are acid generating so its not a problem. We could still use the BFM, however, they are concerned about the sulfide and would like to have a gravity and flotation circuit in place. We did testing (see press release july 9th 2019) and we have 0.05% sulfide in the ore after gravity plus flotation so it would not be acid generating after that type of mill circuit. We are currently working on a solution with the BFM to have a gravity + flotation circuit in place.

We have been looking for other mills in the mean time that have a gravity + flotation circuit already in place, however, they have been unreasonably priced or to far to ship our ore too. We our still looking for other mills in the area that are under capacity and have a few other options we have engaged. Hope this answers your question

Read more at stockhouse.com
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