Ann: Quarterly Activities & Cashflow Report-MGV.AX, page-25

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Prisoner24601

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01/11/16

13:29

Post #: 20282012
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Originally posted by jamieparklondon ↑

I asked RW that same question recently and he came up with some ball park figures. Seems 40,000 ozs at 2 to3 g/t have have been produced by other companies as a small open pit with ore toll treated. Other companies have put together stand alone operations with their own mill with less than 200,000 oz.

Break of Day already has 26,000 ozs JORC compliant resource so I would think with the grades and widths they have announced so far, all well above 2 g/t they have probably already got enough ozs for a small open cut toll treated say by Ramelous which has operations at Mt Magnet. That's my summation only. But I believe they will end up with a ship load more ozs than that.

Silver Lake is a substantial holder with whom Musgrave has done the farm in deal at Cue. Silver Lake has a mothballed treatment plant at Meekathara and trucking BoD ore 100kms to be toll treated there is no big deal with current diesel prices.

It all comes down to the size of the ore body, the grades encountered, the continuity of the deposit etc etc and that's what the current drilling program is designed to identify. Personally I think this is going to be better than Breaker Resources Lake Roe but we shall see. AGM should be interesting.

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Thanks mate, great knowledge and very helpful.
They're making a great go of it and finding plenty. That's all you can ask for as an investor.

GLTAH.

MGV Price at posting: 11.0¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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Ann: Quarterly Activities & Cashflow Report-MGV.AX, page-25

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