nice comparison john 435, page-24

I grabbed 150k shares today and will be looking to double that amount if the sp drifts back to 10-12 c. Not very likely when looking at the current depth, though.


@ treasurehunter

thanks for the great research.

Looking for bargains has become like the proverbial search of the needle in a haystack.

After conducting very long research of several stocks MYG is the only one with an outstanding value proposition.

Here's what I like:


- Decent JORC resource ( 580 k oz / au , 25kt cu, + silver, Ni )
- Established infrastructure with production plant, mine camp, etc.
- Scoping study due in February, BFS due in mid 2011
- Expansion drilling taking place to significantly increase the resource
- Huge Iron ore prospect next to GBG which the market doesnt seem to value yet
- Enough cash in the bank ( 5.5 M$ will see them through a lot of drilling )
- 37 M$ Market Cap
- Targeted annual production of 60k oz / au, 2k cu, 30k oz / ag @ at a probable production cost of 460 $ / oz giving an annual revenue of around 100 M$ and a net profit of around 45 M$ in the first stage of production and at a mine life of more than 10 years. That all for a current market cap of 37 M$.

Looking forward to the drilling results of the extension drilling. We might be in for another couple of super high-grade copper / au hits.

All the best,

Sellier