corvy, I do not believe the cap raising will include a small mill. Initial ore will be toll treated- there are several options such as bendigo, perserverance or even gekko. Gekko would be an interesting scenario as initial tests on Morningstar ore were performed by gekko and,I think, the company has stated a desire to put a gekko mill u/g on level 9. This is the scenario I envisage as a large cap raising at current prices would give us a lot of dilution, I expect it will be in the 1-2 mil range, hoping that proving it can be a high grade, low cost miner will kick the sp along and get any options over the line. This would then go a long way towards funding a decline and u/g plant. I expect the raising will go towards the recommencement of mining and that ore worth treating won't be too long in coming out( a couple of weeks?). In the meantime the price may go lower so be patient and pick your entry point, I know I am sitting and waiting to buy some more.
Cheers Mal
MCO Price at posting:
8.2¢ Sentiment: LT Buy Disclosure: Held
