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2008wack

502 Posts.

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05/11/17

13:36

Post #: 28511919
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Originally posted by BrayWyatt ↑

Their IO project is just too far from port to be economic. While IO prices were at their peak there was some interest but production costs of $80/t are just too high.

They do have some prospective gold tenements, including Mt Forrest itself. The company originally listed as a gold explorer but shifted to iron ore. Taking them a very long time to switch back. The directors don’t seem to keen to doo much but they are also the ones keeping the company afloat with cash injections.

Too think these guys knocked back a JV with Sumitomo back in the day as it undervalued the company.

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Thanks Braywyatt,

I think it is just unfair the amount of money we spend, at least they can put the company on administration or suspension instead of giving away all the stock we currently have for 3 millions!? in the last two years we gave away almost 1.5 million on the fees!! what is the point of this if the project is not economical?
Least I would do is spending that 10 thousand dollars/month on few drilling on the gold project ! what is the use of it when the company website has not been updated over a year!?

Cheers,

Wack

MDX Price at posting: 0.7¢ Sentiment: None Disclosure: Held
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