kagara administrators settle qld asset issue, page-10

BB I disagree with Mungana being too big for MUX. This project is a doable, certainly big money required. But the biggest MUX gold resources are in the two proposed openpits of Red Dome and Mungana. Hardly rocket science.
MUX needs to separate from Kagara- the deal should be a the selective buyback and cancellation of Kagara shares - that I agree with. But no transfer of the gold area agreement. MUX needs to raise the $36.7M but getting rid of Kagara adds back the $80M that the Mungana project is currently written down by in the MUX books.