Is the Board retreating on their goal to deliver the MRE update...

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cletus2

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14/03/22

13:58

Post #: 60178549
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Originally posted by miangel1: ↑

I was most disappointed with the IMO pathetic Directors Report
Review of Operations
".... which are expected to deliver resource growth later in 2022. The Company’s ongoing focus is on increasing the gold resources through discovery and extensional drilling to underpin studies that will demonstrate a viable path to near term development."

The lack of forward looking or aspirational goals compares very poorly to the recent (but earlier) RIU Explorers Conference presentation
which appears far more focused and importantly more specific on the timing of the next MRE update
Resource update (Big Sky & White HeatMosaic) QTR 2 2022

Is the Board retreating on their goal to deliver the MRE update by June 30 2022?

Perhaps our Board was just too lazy to present shareholders and the market with a summary of short and medium term goals like the MRE and PFS studies.

What do others think?

My only rational but perhaps way off explanations involves either a lack of competence in the Board or a considered strategy to control their enthusiasm whilst strategic M&A or joint venture moves and discussions are afoot.

From my understanding of the latest MGV preso is that high grade BOD & Lena deposits are very close to mine planning, with Environmental & Heritage/community finalizations being the only impediment to a "dig and toll treat"strategy,( thinking GCY ).
Both BOD & Lena appear as ripening cherries, figs or whatever choice fruit for the picking.

The other point i would like to note relates to the proximity and apparent orientation of the Big Sky Prospect (and further identified resource drilling targets) to the major JV EVN border line.

EVN are the MEDIUM TERM - longer term logical acquirer of MGV if mineralization to be developed "crosses bordering tenements"
And of course they recently assumed control of the MGV JV drilling program.

However it seems from my amateur assessment, PRIOR to EVN moving to acquire them, that MGV have an
opportunity to monetize the BOD/Lena deposits in the SHORT TERM.

Does anyone else see this opportunity or potential that MGV has?

I wish for the Directors to issue a more informative Half Year Report
And also i wish good fortune to holders.

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Is the Board retreating on their goal to deliver the MRE update by June 30 2022?

They've clearly been having issues for a while with assays being delayed, it inevitably slows down a resource upgrade if they aren't getting the assays back.

MGV Price at posting: 33.0¢ Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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