Ann: Positive Feasibility Study - Widgiemooltha Gold Project, page-16

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mulac1

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26/04/17

20:55

Post #: 24283197
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Originally posted by Value_Hunter ↑

Georgie - ......Gulp ! (lol!!!!!!!!!!!!!!!)

Gavin, we know that MCR has enviro bonds lodged with dept of mines in WA (my rough est is 1.5-2.0m), so the max draw-down would be 3-months working capital, plus the prestrip costs (circa 6-8m). this would leave the company 2-4m .....

there are a number of things MCR could do:

1. raise equity capital (5-10m)
2. forward sell some of the expected gold production
3. enter into a gold loan
4. spin-out the bloody Lithium assets into a new company, and sell to the market for cash and an override royalty ......(my personal preference .....)

we also know that when the nickel market improves - to restart mcr will need 20+m ......

in an ideal world, the gold assets would fund the nickel restart. however - due to the "patchy" nature of gold mineralisation - mr market may take a watch and see approach.......

I noted that the reserves are 25% of the total resources ........and the strip ratios are fine (one of the pits is "high"). gross margin looks solid, and the operating numbers look reasonable. they have obviously put a bit of time into pit optimisation!

deep value imho - thou I rekon mr market will want to see "progress" on the actual gold mining op's.......

if successful - its a self-funded call option over both gold, and nickel ......
rgds
V_H

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we also know that when the nickel market improves - to restart mcr will need 20+m ..

Howdy VH, I seem to recall that MCR stated that its gold foray was all about funding the restart of their nickel projects when the NP recovered.

Smart boys at MCR!

Cheers
M1

MCR Price at posting: 18.0¢ Sentiment: Buy Disclosure: Not Held
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Ann: Positive Feasibility Study - Widgiemooltha Gold Project, page-16

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