watch the close, page-16

IMO,
Volume moving average for buyer 2,105,339 and seller 3,402,841.
The MACD for MNC currently indicates a strong bullish.
RSI(14) is 54.306, i think MNC will go up to 0.046, if MNC goes to 0.046 is time to get profit out or hold it for around 6 months to see how the sp will do.
Activities for the quarter ending 31 December 2013
largely focused on advancing the Mollacas Copper
Leach Project, and preparatory work for the planned
Pre-Feasibility Study at Los Calatos.
Mollacas Project - Chile
Results from the column leach testwork recently com
pleted by SGS (Chile), and supervised by an
independent expert, concluded the following:
•
A recovery rate of approximately 85% of the average
“sequential” assayed copper grade for the
deposit should be attained;
•
The recovery rate for the supergene ore could be as
high as 90%;
•
Low acid consumption in the range of 12 kg/t to 14
kg/t of ore leached was achieved, a significant
reduction on the previous testwork. Additional tes
twork is planned to ascertain whether this acid
consumption rate can be reduced further by limiting
the acid dosage in agglomeration.
These results will have a significant, positive, im
pact on the economics of the project.
The results from this testwork will form the basis
for the detailed mine and processing design which i
s
required to complete a Feasibility Study and the En
vironmental Impact Study (EIS), both of which are
expected to be completed during the 4
th
quarter of 2014.
The Company expects a final determination on the is
sue of its 1
st
Extension “Servidumbre” (Right to
Access) for the Mollacas Project during the 1
st
quarter of 2014.
Los Calatos Project – Peru
On 12 August 2013, the Company announced the result
s of further optimisation work undertaken by
RungePincockMinarco at its 100% owned Los Calatos P
roject, the key results of which are summarised as
follows:
•
Life of Mine of 34-years;
•
Comprises an open pit and underground block cave op
eration;
•
Total tonnes treated over Life of Mine of 811Mt at
0.47% copper and 0.03% molybdenum;
•
Annual copper in concentrate production of 98.4kt;
and,
•
Cash operating costs of US$1.12/lb Cu inclusive of
by-product credits.
Discussions with a number of interested parties on
the future funding of Los Calatos are advancing, ce
rtain
of which are to be held in Peru during February 201
4.
Corporate
•
Cash position as at 31 December 2013 was approximat
ely A$7.8 million (US$6.9 million);
Mr William Howe, Managing Director commented:
“The December quarter saw the successful completion
of the
metallurgical testwork at Mollacas, a major milesto
ne in progressing the project towards production.
The results from
the column leach testwork have confirmed 85% copper
recoveries with low acid consumption rates, which
significantly
enhance the economics of the project. Additional m
etallurgical testwork is to commence shortly to det
ermine the
potential to further reduce these low acid consumpt
ion rates.
The Company is well advanced with the planning for
the completion of a Feasibility Study and Environmen
tal Impact
Study, which is required for mining approval at Moll
acas, and expects to complete these studies by late
2014.”