Seriously, who quotes grades including overburden? What is this, mining amateur hour?
Just to recap, you have company that...
* Dug for Diamonds they can't sell.
* Talk about production/revenue etc without a JORC
* Have specials that apparently aren't of "material value"
* Have 6 months until unknown $$ from sales, and have quarterly cash burn that will not last 6 months but apparently don't to raise capital
* Compare their deposits to their neighbour, but use a different calculation on the grade.... because?
* Have not yet developed a method for knowing what there mind product is worth
* Apparently they know the grade/size of the specials but they are not willing to release this information.
At what point does any of the above raise alarm bells?
I'm happy to be advised otherwise, but it would appear to me that there is the possibility of at least 1 breach of ASX rules in the above list.
Look... maybe they will find better deposits, maybe they will have an awesome profitable mine, maybe I'm a random nutter....
Do yourself a favour and at least take this on board, take the blinkers off... understand the risks... don't bet the house.
MUS Price at posting:
4.3¢ Sentiment: None Disclosure: Not Held
