Ann: MUX enters into binding Term Sheet with WPG , page-2

re: Ann: MUX: MUX enters into binding Term Sh... Looks to me to be like many Australian gold projects, currently being either mothballed or finding project financing difficult with POG where it's at.

MUX's pre-feasability study suggests a cash cost per ounce of $1328 (p.6), with an initial capital cost of $136M. Superficially that reminds me very much of MYG, which as some might have seen, had considerable difficulty raising capital and ended up having to innovate, via a gold-pour agreement with a Canadian heavyweight. It was either that or heavy dilution via equity.

Will reserve judgement as i like this board, however without some serious drilling to expand the resource, it's hard to see the market getting too excited about this in its current form.

http://www.munganagoldmines.com.au/sites/default/files/reports/March%202013%20Quarterly%20-%20ASX.pdf