Jim Gowans: "We do have manganese in our zinc concentrate and that's been acknowledged since the first technical report that came out in February this year. I think just because of the errr...latest technical report because the resource has grown so large so quickly it's become much more on everybody's radar. Err, but the results have never been changed. We're currently going through...errr...metallurgical test work as you always do in work towards a feasibility study. We do know we have some manganese in our zinc concentrates. Our zinc concentrates on the whole are quite clean except for the manganese and its, it's variable in the orebodyAndrew Bell: "Brent Cook is one of our regulars, he and Joe Mazumdar run the website Exploration Insights. I'm going to give you a quick couple of quotes from Brent Cook who very kindly shared his comments on this. He said, "The article forced the company to advise the market about this issue". He also says. "We don't think preliminary results are a fatal flaw for Arizona Mining", however he does go on to say, "This will force the company to manage risk by reducing the manganese content in its final concentrate and working with smelters that are capable of blending down the content, which will no doubt add costs and risk". So can I ask you one thing, were you slow to disclose this manganese issue prior to the website raising it?"Jim Gowans: "No, we put it out in our technical report from the metallurgical test work that you saw. And that technical report from October was actually put out in February this year. I think they just errr..became more aware errr...errr..with all the conversation everybody looking at our stock. Err, we do know there's a problem...errr...you know about certain amounts in zinc concentrates, so we're working on our metallurgical test work at (place name) to see what can be done..errr...with that...err any of our conversations we've had and, you have to understand that we've had all the major mining companies have been to the site and looked at our core...err...they've looked at our results and everybody from South Deep, Teck errr...Rio Tinto and all the big companies that are interested in the orebody have been around and looked at that. We've never had anybody say that it's an insurmountable (problem), we do know that's it's an issue, so we'll just have to make sure that when we're selling our concentrates we do it well. The...the...errr..manganese in low amounts is a good thing in processing zinc in the electrolytic process, but high amounts it just causes some downtime and some interference in the processes. But in our conversations with all our people and concentrates sales people, we do know we'll get some penalty in the amount, it's very small, 1% to 2% of the total value of the concentrates, but nobody's ever come close to saying that it would be a not-saleable concentrate, because other than that it's very clean."
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So Arizona Mining (AZ.to) President and CEO Jim Gowans was on Andrew Bell's show today to talk about all this manganese thing and below find the transcript of the chunk about Mn and that. But before we get to that, anyone long the stock should be concerned about the plan AZ.to has to jump straight from PEA (due 1q17) to a full feasibility study by the end of 2017. To quote President/CEO gowans, "Current schedule is to push for a feasibility study by the end of next year". No pre-feas, Jim? That's to say no pre-feas and a full FS in 9 months straight after the PEA on a deep deposit with 2/3rds inferred resource and complex met? Are you serious? Do you realize what "fast and loose" means, Jim?
But anyway, here's the transcript of the Mn section and you just gotta love the way he says "we do know there's a problem" and "we do know that's it's an issue" after the company's recent flat denial that it's any sort of problem or issue. Jim Gowans, caught with his pants down by good journalism:
PS: You see how Gowans casually names major companies with CAs at AZ.to? Is this guy really that stupid? I wonder how Rio Tinto feels about being used as a pathetic marketing ploy on live TV by a junior that's already been caught out telling fibs?