More good news here! That's 5 annoucements in the last 2 weeks ! Crista Anomaly is now a significant exploration target and is located less than 1km from the current production asset at Engenho. Widths & Grades look strong.
If Engenho is forecast to produce 34,000 ounces a year (corresponds to forecast EBIT of $A17m pa using a gold price of $750/ounce which is totally conservative), then having Mazoca and now Crista literally metres away, total production will from this area will exceed 50-60k ounces a year in about 12-18 mths time.
Factor in some good news from the other projects (Torrecillas in Peru & Tocantins in Brazil) later in 2H09 and we all be sitting back saying l can't believe the share price got down to low 0.40's.
The market is weird at present - simply put this stock in your bottom draw with a medium/longish term outlook and you will be laughing ! I know l will be.
MUN Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
