Yes you are right. As per June 2015 Quarterly Activities Report...

Yes you are right. As per June 2015 Quarterly Activities Report

During the quarter Musgrave received $896,000 from the Australian Tax Office under the Federal Government’s Research and Development Tax Incentive Scheme for its research and development activities during the 2014 financial year. Musgrave has strong links with government and research organisations in the regions in which it operates including the Geological Survey of South Australia and the Commonwealth Scientific and Industrial research Organisation (“CSIRO”).

15c gives us a $19m m/cap. Still tiny for a company based in this region, yet they are still only a promising explorer in a mid-tier gold country, may be ambitious but who knows. If we have gold on our backs more money will flow into the micro sector, and we are quite the compelling micro goldie.

I also feel mth bosses (and shareholders) will go grey very fast. Based on their cash position, they had no choice though.