Thanks Walter. Yes the mine has been in liquidation for some time due to owing a fair wad of money. The current owner had the idea of buying in cheap then reselling for a ten fold profit but it collapsed on him and he was forced to start plant upgrades to re-open. The liquidators came in around 4 months ago. This is awesome news. I have been waiting for this. Firstly the mine will be re-opened again soon and secondly this will get the road finished. The tender is filled for the road and I believe they have been waiting for the mine to fire up to get construction underway. Another thing here is they originally tested out lease for more deposits as the mine was running low. They will therefore be looking for ore and we will have a bundle to sell. Another thought here is the Rio Tinto own another one of the mines leases that they didnt renew quick enough which borders to our west by 15Km. It would be perfect if they take over the mine. they have a member on the mining board so they have influence. Which ever way this goes this is a win for us in my book. (all information regarding the mine owners and the liquidation is available on mine watch)
DYOR
GD
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17 | 66024077 | 0.001 |
0 | 0 | 0.000 |
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Price($) | Vol. | No. |
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0.004 | 23472859 | 30 |
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