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clock Created with Sketch. 24/10/15
16:43
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Originally posted by Io
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Now that Yukon Zinc have paid their creditors and the Yukon Government, the management of Yukon Zinc can concentrate on how they are going to secure funding to keep the Wolverine mine on care and maintenance. According to the last report from the Monitor PwC, Yukon Zinc only have enough funding to keep the Wolverine mine on care and maintenance until early 2016. I guess they could get more money out of China but that looks unlikely as the last lot of money Yukon Zinc got to pay their creditors was $2M less than they asked for so it seems getting funds out of China is difficult at the moment. Therefore, it's likely the management of Yukon Zinc are going to have to secure funding from elsewhere. MNQ have said on numerous times they are believe that the combination of Wolverine and Fyre Lake projects is the only viable long term solution. Bringing the two projects together should be a win - win. I assume our management is doing all they can to cut a deal with Yukon Zinc to get access to Wolverine. The other significant player in what happens from here is the Yukon Government as in a small place like the Yukon the loss of jobs from Wolverine is significant and the government will want to see Wolverine go back into production. If I was MNQ management I would be getting to Canada pretty quickly and staying there until they agree on a deal with Yukon Zinc for Wolverine. If MNQ can announce a deal giving them access to Wolverine they will be on the fast track to production and the market will then take notice of MNQ.
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With BMC, Yukon Zinc and Minquest that whole area is commercial - not a matter of it but when, mnq's known resource is there for all to see - when a deal is done and trading at 30-40 mil mkt cap - some will be saying how come I didn't buy and didn't see that when it was all there, similar to another story when someone kept telling the masses a flood's coming get on the boat - some people just can't see it I guess
