The current copper/gold prospects that Mox are going to be involved with at Punt Hill (Mox 100%) and Melton/North White Cliffs (Mox 50%, Meu 50%) are not going to be deep at all. Both of these prospects have been surveyed with Gravity and or Aero magnetics and shallower mineralisation is highly possible.
Regardless of how the price performed prior to the rights issue all shareholders had a chance to buy their alloted amount at 7.5c
2010 will see a number of hits/misses but it only has to see one of them come in and we will see a substantial rerating of the current share price.
1. Marmota (Meu) the operator of the highly prospetive Melton/North White Cliffs prospect will be drilling in the first quarter of 2010. Mox has enough cash to pay for its 50% of the drill costs.
2. Monax will drill highly prospective Punt Hill prospects where Gravity surveys have defined potentially shallower IOCG style mineralisation. Mox has enough cash to pay for drilling both Prospects at Punt Hill.
3. Investment in Meu (Mox 25%). Marmota has discovered a greenfields Uraniun find. Marmota has raised enough capital for extensive drilling to prove up the prospect over the next six months.
4. Manganese at Waddikee to be further proved up by Monax (Mox 40%, Omh 60%) during 2010 . Possible Iron Ore mineralisation to be defined as well. Funding of $2m provided by Partner OM Holdings a $1b asx company specialising in Manganese the world's fourth-most consumed metal by weight behind Iron, Aluminium and copper.
