I stand by and can support everything that was written in my original post and have had discussions with HC. Unfortunately, and I completely understand this, moderators do not have the time to review and adjudicate on what is factual or supported vs what isn't. Basically, if a complaint is made that something is potentially defamatory to the board, or company, the decision was to err on the side of caution.
I get it, not fair but the law has for ever been used as a tool for pressure and control. I spent two years fighting a court case in the US after being advised to settle straight up despite that I was in the right. After two years, a lot of work myself on the defence and lots of legal costs I settled on the court house steps for 25% of what it was going to cost me running the case (with no guarantee how a jury might actually fall such are the twelve good men and true). HC cannot get involved once any threat of legal action is made, best course of action is to take any risk off the table and moderate reported posts.
Dirty pool but exactly such a threat was made by one poster here on the 7th, but subsequently pulled and rightly so. I'll persevere if you don;t mind, being triple careful to reference and be polite as possible. I've obviously hit a nerve and I just don;t see why I should be bullied into leaving simply so team bull can have the ground to themselves. My original Quarterly report post with the offending sentence removed below.
Dear me, to a hammer everything is a nail lol. Only a few here care about a balanced view of facts, let alone for facts at all, but someone should be proving a balance against the spin here.
What is there NOT to like! We have a very very good Management team indeed! World class management I'm sure, but accurate they are not. My credibility is easy to smear with false accusations but MRQ credibility will be under a lot more scrutiny. Investors want to be confident that a fair picture is being painted, not gilding the lily. From page 3 of the quarterly: "The best hole returned within this new laboratory batch is 19CCAC116, witha maximum of 17.64% THM(Table 1). Overall, based on the almost complete dataset (0-3m not yet available), hole 19CCAC116 comprises an uncut downhole average of 6.23% THM over 51m from 3-54m.Slime values related to hole 19CCAC116 are moderate, with a range of 6.99%-19.04%and an average of 12.02%. "
Simply not true. Actual 19CCAC116 results below, maximum slimes are 28.55%, within a 12m interval that averages 21.5% slimes, higher then the claimed maximum slimes for the hole. Management make the important point that only 43 of 202 primary samples contained >20% slime for the reason that high tonnage operations struggle with throughput above 20% slime. Plenty of low slime material here, but maybe some high slime overburden to remove first.
"In terms of overall Slime characteristics within this aircore laboratory batch, only 43 of 202 primary samples contained Slime values >20%."
Also posted by WhippedCream below, We are in a very Pro-mining country.
Great to see the Mozambique government it full support of Rio and Savannah Resources.
Bodes well for MRQ in its infancy. Does it? SFX will be into production or out of business by the time MRQ gets Corridor even close to finishing DFS. Mutamba is a closer competitor in terms of geographic supply and project timing, the TiO2 supply gap will only get so big before it is filled.
Final tenement permit approval awarded. Yes, it was finally awarded after two years wait, longer than expected and caused Savannah to idle the PFS pending approval. Two years for MRQ might be right, but it might take longer given the population issues faced compared to Mutamba. Just saying...
"License 9228C, or Jangamo Rio covers 11,807 hectares of land close to the Port of Inhambane. The estimated mineral resource is 4.4 billion tonnes at 3.9 per cent heavy minerals."
"Mutamba has an initial estimated mine life is 30 years, with license 9228C valid until September 2044 and the potential to extend for an additional 25 years."
Lets earmark our Chairmans comments, potential of 1.8billion tons, quick back of the envelope calculation. Potentially higher grades THM, meaning less throughput and less cost. Open in all directions and at depth, one would imagine a rough target of at least a 15 year LOM I eagerly await assays with everyone else to see what sort of higher grade resource might be found within a larger, low grade global halo.
Not such a bad outlook for a company with a MC of less then 20mill currently. No point debating this old chestnut. In 12 months there will be 2.2B shares on issue plus a mid year CR. Investors will chose to do their own math according to their own view of fully diluted or a snap shot in time.
MRQ Price at posting:
1.9¢ Sentiment: None Disclosure: Not Held
(20min delay)