Just looking at the capex required. All up is going to be 62m+ i...

Just looking at the capex required. All up is going to be 62m+ i estimate another 15m in future dilution (Cash required for ramp up, contingency and admin).

Add that to the market cap and you get a rough 100m.


This will produce at 80,000oz at 801$ ASIC. This figures ignores debt costs and is only on paper.

There is a potential to be producing at 150,000oz but will require another substantial capital outlay.


Why not just buy something for example like SLR who are producing at >150k oz already?

At roughly 200m (they have a stack of cash), double the initial forecast production, 10 year mine life vs MYG 6.25 mine life and many other assets including Murchinson which will be in care and maintenance. ASIC costs are higher but they are proven and dropping.

Just saying why bother take the risks of possibility of no finance and higher than expected costs... when producers are trading just as cheaply and established.