That is what it boils down to. Either the gold is there and MUN becomes cashflow positive, or its to the meatpackers it goes.
I have to assume that they have a high degree of confidence the gold is there at reasonable grade, and proving it up to JORC standards is an added cost from which there is nothing to gain given the need to conserve funds.
MUN is a highly spec play. Given your conservatism - well warranted that it may be - I am surprised you ever bought into MUN.
Do you know who has been feeding questions to ASIC to get clarification of the data on the June quarterly. They deserve a medal. It must be a current or recent shareholder, like you.
loki
MUN Price at posting:
8.7¢ Sentiment: Hold Disclosure: Held
