Thought I would put together a bit of a comparison between this stock and another which has been posted quite a bit on this forum RMX (RED MOUNTAIN MINING LIMITED).
Let’s start with the market cap-
Mantle Mining - fully diluted MC minus cash is around $7m,
Red Mountain Mining – fully diluted (not including performance rights) around $8m
Now to the projects-
Red Mountain have two projects located in the Philippines
Lobo (SWB) 7.2g/t 45,000Oz Total
This is almost identical grade to Mantle’s
Norton Project t 7.4 g/t 108,000Oz Total
So Mantle has double the high grade gold.
Now RMX have just completed a scoping study on this deposit. A few points
- Capital cost of A$16.7 million so RMX will have to dilute massively to bring into production (Mantle estimated ~$1m for Norton, half already paid)
- Cost/Oz $769-1,050 (Norton was previously mined at $800/oz, thanks to poster potchip)
- RMX start production <1 year away? Mantle 6 months?
So on this first project Mantle beats RMX on every measure.
On to RMX second project Archangel (Kay Tanda)
2.0g/t 363,000 Au Oz 3.3g/t 595,000 Ag Oz
This is almost identical to Mantle’s Granite Castle/Coronation Project, except it has not been fully drilled.
2.91g/t 79,301 Au Oz 56.2g/t 1,530,803 Ag Oz
The conservative target is
2.5–3.5g/t 162,000–255,000 Ag Oz 55–70g/t 3,570,000–5,110,000 Ag Oz
On top of that Mantle has:
-More Gold JORC at Charters Towers 125,000 Oz
And as part of the discussions of a deal with "domestic and offshore entities" are the coal assets
-Mt Mulligan CBM Project
-NPV @10% = $1.4 Billion 50/50% JV Exergen Project
-Latrobe Valley Black and Brown Coal Project including 289Mt JORC
Comments welcome, I would prefer negative comments rather than just anonymous downthumbs.
- Forums
- ASX - By Stock
- AUL
- rmx comparison
rmx comparison
-
- There are more pages in this discussion • 15 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add AUL (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LPM
LITHIUM PLUS MINERALS LTD.
Simon Kidston, Non--Executive Director
Simon Kidston
Non--Executive Director
SPONSORED BY The Market Online