my views to date, page-3

Hi Pictorella,

Interesting comment. They have started drilling on Obdilla again? I didnt know that. Was that from recent conversation with Stephen?


I think MYG and PXG are decent prospects but the road they face ahead is filled with dilution. EPS will keep dropping.
MYG needs 90m+20m at least and PXG won't complete their DFS till December 2013 and capex unknown. PXG has also recently announced a 20m capital raising.

How is MSR different? We already have a DFS. With Shambesai capex of 32m$, we face little dilution and even less dilution if we can get a 30m$ debt package. Bare in mind, even if we do get a cap raise, remember that this is probably the last till they can self-fund.

Added bonus is we have 8.5m cash atm and potential significant cashflow from toll-treatment in 2013. All these will protect earnings per share to ensure the most % gains for shareholders.