The jorc is supposed to be due in a couple of months which is expected to increase mine life to 6 yrs from the current 2yrs at the expanded production rate. Having said that I really fail to understand why they haven't continued drilling concurrent with the expansion of production...they have the cash to fund it and according to the anns have identified the targets.
Good point about the grid power, I've never really understood that one either, though possibly time was a factor in getting the original production up and running....grid power may well still be a possibility once longer mine life is assured.
Having to cart the ore 30km to the plant doesn't help in the cost dept either, but the cu price has pretty much kept pace with the rise in fuel costs, so hopefully we'll get a decent quarterly report.
MRX Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
