Seems to me there is a bit of a misunderstanding out there on this company. They have only announced 3 holes and I wouldnt say the results are anything less than good.
Lets work it out then shall we.
As per recent company ann's.
OK 2m at lets say for arguments sake 25g/t (Not including silver Which I think will, when it comes down to it, be on the conservative side but that’s a good place to be)
That would equal in tonnage terms 20m at 2.5g/t in normal gold mining terms (comparable to Aust operations) with a tenth of the cost to remove and treat the material. Cash costs are projected to be US$110/oz.
To comment on the matter you actually have to understand the scenario.
High-grade veins with low cost of production are better in the short, medium and long term than large tonne low-grade deposits provided you can maintain the resource. We are talking a potential 10-year operation with further exploration upside and hopefully average grades of 1 ounce of gold and 18 ounces of silver, typical epithermal deposits. These are something that we don’t get a lot of in Aust, mainly in the Vic goldfields and QLD but when you get one………Nice!!!.
Mill already nearby which has been in production for the last 4 years producing ~20-30k oz/ for the ast 2yrs, which wouldn't suprise me if it was 100% owned by MML at some stage. This being the case MML could be producing 40k oz at cash costs of 120. Get out the calculator.
2 drill rigs on site that will be there for a very long time and even though the thickness varies the grade has been very generous. A recent post on this company asked how anyone could mine a fraction of an inch, well SB2000 if you had any idea you would have realised that this is a bonanza zone within the 2m wide vein, More than enough to mine and can be very friendly to te bulked out grade, this zone was not included in the overall quartz vein results, Can you get you head around this or do I need to explain further.
Vein sets being discovered every week, Remember KCN at 25c, same s h i t different smear, you have to have a view and a time frame.
I am not concerned by the dribble that some people say about this company, the main reason they say it is cause they didn’t get any, and by enlarge most (not all!!) that post here are Imbeciles that couldn’t find their a r s e with a mirror when it comes to investing in mining stocks. THE STOCK HAS GONE UP BY 250% WHEN YOU INCLUDE THE OPTIONS, I don’t hear the shareholders whinging, just turkeys that didn’t get any.
Its a play and compared to the rest of the s h i t out there is a good one, however I own a lot which may cloud my judgement so don’t go out and buy any on the back of this post.
That will do, dont mean to be rude but I have had enough of setting dickheads straight.
Rod
MML Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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