IKN

And thereby hangs a tale

Assay backlog

After yet another conversation with a mining CEO in which the subject came up quickly, a post. From all points Americas the message from mining companies is the same; assay labs are backed up like they’ve never seen before and companies are often being guided for two month waits for their results. The issue is less the exploration companies and more the mining operators, who cut way down on normal exploration and resource definition work in 2020 (Covid and all that) but now need to get back up to speed on their working deposits. The result is a mas influx of assays from big companies, all rush, all high priority, all urgent and one of the consequences is that explorecos cannot even pay for rush results, you wait your turn.

Bottom line: Cut your company some slack if they aren’t quick with results in 1q21, the situation should improve as from April.

2 Comments

    Interesting. Is there a way to play this? Are any assayers public?

    Reply
      Apu Apatite Rahmatpur, West Bengal 11/02/21 11:10 am

      Bureau Veritas is public. Wikipedia reports that the Agri-food and Commodities division is 23% of revenues.

      Reply

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