Good preso. I think the great metallurgy at BOD was somewhat the highlight (need some good extensions to make it shine....another juicy intersection outside the resource).
I'm surprised they aren't drilling Lena as that's what is likely to be mined first. There seem to be some shallow open areas to the north and some obvious targets deeper to the south and directly beneath the deposit.
Louise could throw up anything.
I don't think we are over valued in comparison to other stories around the place but while we have a loose registry it makes it hard for existing holders.
According to the preso we are proving ozs at a cost of $16/oz.
That means we only need $1.88 million to get us to 500koz and $9.88 million to get us to 1Moz.
Say we raised $10 million at 7.5 cents per share that would take our shares on issue to 353 million and give us a market cap of approx. $26.5 million.
Now if that $10 million exploration spend brought us our 1Moz resource we would be very very well priced at a market cap of $26.5 million. Problem is, the gold needs to be there? I'd be happy to plod along slowly with capital raisings as long as what we dill out is good quality and comes together into a sizable collection of economic deposits. Esh
MGV Price at posting:
7.5¢ Sentiment: Hold Disclosure: Held
