With all due respect, this is a lot of speculation and wishful thinking. The fact is, there's insufficient data to say anything. I suspect much of the mineralisation identified in this campaign is uneconomic. The geological complexity and depth make it financially very challenging. Not just for an underground mine, which is already unlikely for many other reasons, but also for an open pit operation, given the amount of overburden material required to be moved first (the pit wall would have to be stripped back to go deeper).
Unless Silver price significantly increases in the next 6 months, Manuka is finished as a going concern. The current share price has still not discounted this enormous risk, and is banking a $30 silver price already for the silver stockpile processing. Mining vergin dirt from the Wonawita pit has a significantly higher cost profile, as well as much lower grades. Under current price, it's not economic. This stock is a total gamble...it's all speculation with this one!
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- Ann: Progress Report - Results of Mt Boppy extension drilling
Ann: Progress Report - Results of Mt Boppy extension drilling, page-17
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Open | High | Low | Value | Volume |
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2 | 129375 | 0.032 |
2 | 139274 | 0.031 |
1 | 152611 | 0.030 |
2 | 97777 | 0.029 |
Price($) | Vol. | No. |
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0.036 | 290930 | 1 |
0.038 | 76707 | 2 |
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