Just spoke to the company secretary yesterday and he said that development of the Merlin mine would probably start in about 6 months time and take about 18 to 24 months to complete. He said the company may sell some of the ore from the ultra high grade Molybdenum/Rhenium Little Wizard deposit as DSO (direct shipping ore) to get early cash flow but may just process this when the mine is developed because they would only get credits mostly from the much higher content Mo. By leaving it later they can extract the high value Rhenium.
IVA Price at posting:
$3.91 Sentiment: LT Buy Disclosure: Held
