47 cents by weeks end, page-19

The big question for me -

as far as I can see BIH is only economic if 250,000 oz can be inferred. Some one on here compared BIH to RMS's wattle dam - wattle dam is (will be) v profitable on an assayed fe grade of 1-2 g/t because the deposits are very nuggety. This isn't the case at BIH and the 250,000 oz 'target' that the directors have a figure they want to reach before doing a scoping study early next year is a target because they require this amount before it will be economic to extract. Bear in mind also that due to its location there are additional water table and stability management issues. Hopefully for holders BIH will have its resource upgraded to 250k oz - otherwise BIH may never go into production.

Remember they have been drilling for two years and BIH was never seen as a company making mine but rather as a cash generator to fund more exciting projects; if BIH isn't economic then MXR is likely to have to do another raising and it wont have much to show after
i two years.
I would expect this would mean that a future raising would have to be done at a deep discount.