MGV 2.74% 35.5¢ musgrave minerals limited

Ann: Excellent Gold Recoveries from Initial Metallurgial Testwork, page-8

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  1. 196 Posts.
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    Things can move pretty quickly once you understand your resource.
    A similar sized company secured an advanced project in the Northern Goldfields in June 2015 and the timeline was as below:
    July 2015 - secure project
    Sept 2015 - Study commenced
    Oct 2015 - drilling commences
    Feb 2016 - upgrade to resource
    March 2016 - more drilling
    March 2016 - MOU signed for toll treatment
    July 2016 - Mining contractor engaged
    August 2016 - May 2016- Mining commences, 1st, 2nd and last stages of the pit mined to a depth of 60mt .

    Obviously there was a lot more to it than that, this particular team never took a backward step, the pit was a success and the company is moving on with its corporate goals.
    Once MGV have a defined resource (very soon) they will be able to move onto the next steps.
    RW strikes me as an intelligent and methodical man, Westgold have thrown a curve ball into the mix but I have no doubt he will navigate his way through to get the best result for shareholders, we can expect to see a JORC resource soon, then mine planning etc.
    I don't believe it will take as long as some may fear.
    Speaking of the JORC, I think it will be impressive, cant wait to see it.
    Regards
 
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Currently unlisted public company.

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