MFE 0.00% 1.0¢ magnetite mines limited

be patient and we will be rewarded, page-6

  1. 1,840 Posts.
    lightbulb Created with Sketch. 29
    I agree with your thoughts on the buyer accumulating this stock.

    The previous drilling done by the Sth Aust Govt is very important to the project in so much as ROY has a firm base of proven results of the type of ore and its thickness. One important fact that was discussed at the AGM by Marcus Fils was that the SA Govt disregarded the top layer of ore that was assaying around the 28% mark They classed this as overburden and as such they projected this to be removed prior to mining.( A cost)

    Marcus indicated that this can be mined and processed now by crushing and grinding the ore down to a finer size which will then upgrade the mining operation as he ore body can be processed from surface.

    This stock will appreciate as dilling results are released in the new year. I would say the chance to get this stock at 20 cents is fading.
 
watchlist Created with Sketch. Add MFE (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.