We can be fairly confident that Musgrave has a commercial deposit the question now is how big is it? The most recent drilling results suggest the company should easily double Silver Lakes 96,000 oz resource estimate at Lena and Break of Day and that was before Musgrave did any drilling.
Now after all those high grade intersects 200,000 ozs looks certain, 300,000 ozs looks possible and 400,000 ozs or more may not be out of the question. More assay results this week should throw further light on what Musgrave has at Cue . RW remains rather tight lipped about the potential for a whole lot more ozs than originally anticipated but has allowed that the deposit could be much larger than first thought.
With gold on the move from geopolitical risk the long wait for patient Musgrave shareholders may about to be over.
MGV Price at posting:
8.3¢ Sentiment: Buy Disclosure: Held
