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Ann: New Gold Reef Structure confirmed at Stacpoole Zone, page-35

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trtkjd1

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21/08/17

20:36

Post #: 26644680
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Originally posted by vertigo ↑

I am sorry I did not make it clear, I am laughing at you, as we debated this before.

This latest drilling confirms that there is a large untouched zone that the old timers missed which is easily accessible and the quartz is gold bearing. Although the grades are not bonanza, the mine is well known to be nuggety in nature, so a handful of cores over hundreds of meters are going to give the impression of lower grades than are actually there.

This is good news for the progression to near term trial mining, and I would not be surprised if a feasiblity study comes out with a $10m profit for the mining of this zone. Then there is news of progression with the part owned Shandong RoD mine, also positive news.

I can understand why the market did not take this a positive or negative as there are still uncertainties like the final payment, capital for trial mining and the sale of Norton. Still, I am a lot more confident in MS than I was previously after all the armchair experts were claiming that the old-timers had taken all the ore from the upper levels. It would seem that assumption was incorrect.

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Plenty of ore there no body has disputed that , wether it contains any viable gold is the question.

MNM Price at posting: 0.8¢ Sentiment: None Disclosure: Held
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