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Addleisure Share Discussion Threads
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|envirovision, are these addleisure or adex mining, are they the same company|
|Well given today's excellent drill results I have bought back in again.|
|Adex Reports Initial High Grade Drill Results at Mount Pleasant
TORONTO, ONTARIO, Feb. 8, 2011 (Marketwire) --
Adex Mining Inc. ("Adex" or the "Company") (TSX VENTURE:ADE) is pleased to announce the completion of its 2010 diamond drilling program on the tin-indium-zinc North Zone at the Mount Pleasant Mine Property in southwestern New Brunswick, Canada and the return of preliminary analytical results.
The purpose of the program was primarily to upgrade the North Zone National Instrument 43-101 ("NI 43-101") compliant "inferred" resources to "indicated" category and to obtain roof pillar geotechnical information in support of the planned definitive feasibility study for commercial development of the North Zone. The drilling was also intended to test and expand those high grade portions of the sub-zones identified at less than 250 metres depth. In total, 3,734 metres of drilling was completed in 26 NQ holes. Fifteen of the holes are vertical with the remainder oriented in various directions from 41 to 75 degrees dip.
Despite the definition drilling purpose of the program, exciting new exploration results are being generated. Hole AM-10-10, drilled in an underexplored part of the North Zone, intersected four metres of 4.67% tin ("Sn"), 14.5% zinc ("Zn"), 980 g/t indium ("In") and 0.56% copper ("Cu") beneath a historical hole which in the 1970s had intersected 41 metres of 4.08% Zn and 0.10% Sn. No indium analyses had been completed on core from the historical hole. The intersection suggests the discovery of a new-high grade sub-zone open both laterally and at depth. A follow-up hole has been completed up-dip from the historical hole with analytical results pending.
Other highlighted results are from Hole AM-10-18 which was drilled to test the southeastern extension of the Deep Tin Zone. Drilling intersected high grade mineralization of six metres grading 1.74% Sn, 7.01% Zn, 520 g/t In and 0.21% Cu. Hole AM-10-20 was drilled 15 metres to the west of a high grade intersection encountered in Hole AM-08-03 (0.27% Sn, 9.08% Zn, 1,920 g/t In and 1.22% Cu over 18 metres announced July, 2008) and returned two intersections of six metres each grading 0.49% Sn, 9.42% Zn, 212 g/t In and 0.46% Cu, and 0.26% Sn, 10.5% Zn, 1,860 g/t In and 0.91% Cu. In addition, Hole AM-10-13 which was drilled to test the southern extension of the North Adit Zone intersected nine metres of 1.62% Sn, 0.43% Zn, 121 g/t In and 0.59% Cu. Preliminary drilling results are tabulated below.|
|Indium production per year: 40 tons approx = 40,000KG x $650 = $26,000,000 per year (at current indium price)
40 tons approx = 40,000KG x $1300 = $52,000,000 per year (Indium price is projected to double).
Production excludes zinc extraction.
NB Current market cap is $23,000,0000|
|TORONTO, ONTARIO, Jan. 20, 2011 (Marketwire) --
Adex Mining Inc. ("Adex" or the "Company") (TSX VENTURE:ADE) is pleased to announce results from its zinc/indium hydrometallurgical pilot test program being conducted at the pilot facilities of Thibault and Associates Inc. ("Thibault") in Fredericton, New Brunswick.
Indium sponge metal grading 96.25% indium and zinc metal grading 98.89% zinc were produced from the pilot plant operations in December 2010/January 2011. Feed for the successful pilot run originated from zinc/indium concentrate from previous testwork on the North Zone ("NZ") of Adex's wholly-owned Mount Pleasant Mine Property ("Mount Pleasant" or the "Property") located in south-western New Brunswick, Canada.
In addition to the pilot testing, computer simulation of the proprietary, chloride-based process technology is in progress by Thibault to optimize operating and plant design parameters for the hydrometallurgical flowsheet.
"I continue to be very optimistic," stated Errol Farr, Adex President and CEO. "As previously stated, the potential to produce and direct market high grade indium and zinc products places Adex in a unique position amongst junior mining companies."
The hydromet process, developed by Thibault for Adex, involves chloride leaching of zinc sulphide concentrate containing approximately 4500 ppm indium and recovering indium and zinc through a series of solvent extraction and solution purification unit operations. In addition to the production of high purity indium and zinc, the technology is designed to optimize on the regeneration of leaching reagents and to assure compliance with environmental guidelines.
Indium production at Mount Pleasant is planned at 40 tonnes per year ("tpy"), with about 4,000 tpy of zinc metal. Adex also plans to produce about 1500 tpy of tin metal either as high purity metal or as metal contained in tin concentrate.|
|Indium mining in Canada.
|Lets hope they fly!
|new name will be Fitbug. BUPA will hold majority of the company. and debts converted.|
|Sounds good and hope that they pull it off.
|Have they been relisted yet?
I see the directors are lending the company money, that shows confidence or is throwing good money after bad???|
|I don't suppose you had shares in this lot then. Why is all the blame laid on David Cummin? What about all the other directors who have a lot of experience.
Why would Gladstone have bought Clubrunner if it was going bust?
Obvoiusly you have been follwoing these comapnies more closely than me and it would be interesting to hear more.|
|Seems its the same old story with Mr David Cummin, went bust with Duffledown, bust with Eaton Business System, was going bust with Clubrunner when Gladstone bought them and now going bust again.
Look how Glastone shares jumped when Alan, David and David Leisure suspended their shares. Less competition in the market is good for the solid mainstream companies.
The Health & Fitness industry is over subscribed with all sorts of clubs and members are cancelling their direct debits across the industry in their droves.
The problem then is that they look at their other direct debits they have like BT and find they are being ripped off, so cancel them .. this recession has not started yet and the health & fitness industry is one of the indistries that will be hit hard. It has only existed since the 1980's and is realy just another branch of retailing.|
|On the plus side it does sound like they are actively pursuing funding - let's hope they get it but I imagine a fair bit of dilution but at least it lives to fight another day.
Don't hold any btw.|
|I've kept my eye on these but like many an AIM Company expenditure runs way ahead of turnover and profits and before you know it they have run out of cash.
I am extremely wary of AIM Companies now because of this reason - some of it is bad luck but much of it is bad management and over optimistic predictions.|
|Not looking good but I dont think they will go under. Bupa has put money into it only recently, they must have had an idea of the possibilities on the horizon.
|Have been out of these for a while, but pop back every so often.
Saw the RNS this morning - what's been happening ?|
|Thought we might have heard some more news by now. I am still positive. There are few sellers around and I might pick some up at 1.5p. Would like to hear if there are any comments on what the company is up to at the moment.
Any news would be welome?