Thought the same re other assay results annmt zmemed.Unusual for these guys to be late as they are pretty much on the money with ann timing usually.
I can only agree with your reading between the lines re possible T/O or buyout of their Mt Isa projects.Why would they suddenly change tack with their medium to long term plans for mining.They were to originally start mining/processing at Mt Cuthbert/Watson with a possible moving and upgrade of the old plant.Now thats all on the backburner and they're going hell for leather with more drilling at Mt Watson to define the total resource and not looking for a start up at White range till mid/late next year.
Not that I'm worried(niether is the market apparently)as it doesnt look as though the Cu price will soften dramatically if at all over the next couple of years. I have heard the Chinese are after good long term mines to support their burgeoning demand for the metal and this would suit them nicely.
All the factors seem to be pointing towards mrx delaying for some reason yet still drilling out all these mineralisations to increase the market cap of the company.Only other reason might be to make the projects more robust so as to make financing that much easier to get.Never know what going on in the minds of these guys.
If a move was made perhaps a good time would be post BFS for White range.
Cheers d.
MRX Price at posting:
0.0¢ Sentiment: None Disclosure: Held
