Hi Nasa, I didn't expect in 1000 years that you would see...

Hi Nasa,

I didn't expect in 1000 years that you would see anything about the CR as a negative

I've already explained that I agree that raising funds is essential for any growing miner with strong prospects, which is what I think MRF has.

I, however, disagree with you that they needed to raise $4M now at 5.5c. The very research report that you have posted several times on here, clearly outlines the costs of refurbishing each shaft and states the aim is to ramp-up to 20 shafts eventually. @ $200k per shaft, why not look to get a quarter of the desired production established (5 shafts), find an offtake partner, let the market see some cash flows and have the price sitting at 10c+ and then raise funds to complete their production ambition?

It is how the register is handled in the early days (i.e. now) that determines just how high the sp can rise in the future. The trap that many miners have faced over the years is that even though their mc increases greatly, shareholders are none the wealthier due to the gross amount of shares issued throughout the company's life. Thankfully, MRF are not in a grievous position in that respect, and while this is not a CR I'm happy with, I still have a 10-15c price target on a 12 month basis.