Lack of update frustrating, its almost two months since the last media release and in the junior resources space no news means no market interest as is plainly evident in the company's share price. We know we will have something out by the 31 Jan because that's the deadline for their December quarterly but only problem with that is it will compete for attention with hundreds of other quarterlies.
As I see it Musgrave is further down the track towards developing a mine than a lot of their competitors on higher market caps who are still taking rock chip samples or doing initial AC and/or RC drilling. Musgrave has done the broader RC drilling followed up with Diamond Drilling to get better core samples and taken rocks for metallurgy testing. What the next announcement should show if we are to see an appreciation in the SP is confirmation of the width, depth and mineralisation in the lodes already identified positive metallurgy results and some comment about being on the path to resource assessment that will come after infill drilling in February.
Hopefully our patience will be rewarded.
MGV Price at posting:
7.5¢ Sentiment: Buy Disclosure: Held
