MAU's share price has had a pretty good run over the last 6 months (since the CV19 blip). They have enjoyed a fair bit of drilling success and if you take George's figures as gospel, then this money will help extend the 'strike zone' circa 50% in length. Not too shabby providing the 'gold hits' keep occurring! George's words attached.... Commenting on the success of the capital raising, Managing Director George Sakalidis noted “the Company continues to enjoy significant exploration success at both the Hawks Nest 9 and Lady Julie projects, and these funds will allow for additional RC drilling looking to mainly extend the near surface HN9 Project from 3km to 4.5km in length and deeper diamond drilling mainly in the exciting thickened multiple gold rich porphyry lodes which remain open to the NE to be carried out and the commencement of feasibility studies. The Company is moving towards the release of a JORC resource by the end of the year, with the current intention to have feasibility studies commenced.”
If the drill ain't turning then nothing much happens!
MAU Price at posting:
$1.33 Sentiment: Buy Disclosure: Held
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