Bawdwin-The Impossible Mine- Signifigant Re-Rate Imminent

Hi All,

First time posting here - but with yesterday's announcement from MYL -thought would be an appropriate time to share my thoughts re Bawdwin and the blue sky opportunity ahead for the company.

As we all know- the Great Bawdwin mine is an absolute tier-1, world class deposit- something that should not be in the portfolio of a small cap company. We usually see assets of this calibre in the portfolio's of major mining companies- think BHP, RIO, Glencore, South32.

The best analogy to Bawdwin is South32's Cannington mine in Queensland, which is the worlds largest producer of silver and lead. https://www.south32.net/what-we-do/places-we-work/Cannington

The market has not yet woken up to how big a play this is for a small cap company. No one thought they could get there hands on it when it- that's why inside the company they refer to Bawdwin as "The Impossible Mine"

It is all good having an option to buy this thing, but without Myanmar government approval- it's all talk.

Yesterday's announcement from MYL changed that. They now have the green light to purchase which is their most significant piece of news in 6 months. ​

Key opportunities

• MYL offers high risk reward with a $35-40m market cap and an option to acquire a multi-billion dollar NPV asset
• Myanmar is an underexploited resource rich country which is opening up to foreign investment
• Exploration upside with 3km of continuous mineralisation, old workings and gossans. There is little to no exploration beyond known outcrop
• Potential for an underground mine from known deeper mineralisation
• Potential acquisition/partnership of a nearby zinc smelter (common shareholders- via Mark Creasy connection)

MYL will have strong news flow through to the end of 2018.

Key events include:

• ​

Announcement that MYL will proceed with its option on the Bawdwin asset (investment in WMM). Due by mid-May and the funding to be completed for purchase.
• An updated Resource, converting a large portion of Inferred Resources to the Indicated category. Expected circa June .
• A Scoping Study on the Bawdwin open pit mining scenario. Expected circa June
• H2 2018 ongoing drilling and metallurgical test work
• The release of a maiden Reserve and Feasibility Study are anticipated late 2018

With so many key catalysts in the next 1-2 months in particular it's easy to get excited as to what this will run to once the market wakes up.

It is hard not to see that once MYL exercise the option in coming weeks and take ownership of a multi-billion dollar NPV tier 1 asset how the market cap of the company wont be pushing north of $100mil in the short term. You would expect to see 10-20c share price all things going to plan in coming month or two.

Is that conservative? A report released by Argonaut Securities yesterday: "We regard MYL as one of the best risk/reward propositions from an ASX junior resource stock. Argonaut maintains a SPEC BUY recommendation and a share price target of 25c a share."

What does everyone else think?