huge find regional victoria, page-30

Chiefjoseph must be away so I will reply in his place. The cost for trial mining for extraction, delivery and toll treating is 8 grams per ton. head grade CONSERVATIVELY estimated at 12g/t but if you read up on MCO and the historic grade factoring you can probably expect at least double.
Cash position isn't great, less than $500,000 but returns from trial mining should make them cash flow positive. Nothing to stop them toll processing for 12 months or more and building cash position. Options expire 31/12/08 at 25c conversion. If trial mining proves grade factoring and gets the options up $13 mil will be received.
Long term plan to build a decline and put a gekko plant underground. 95%+ recovery from primary crushing.
Wont go on and on, suggest you read jorc report and last annual report and browse website. It's a great story unfolding and destined to be a big success story if all goes to plan. Not to mention the numerous old workings to only water table depth ( 5-50m) yet to explore

Cheers Mal