General discussion, page-1267

"Why would the current management team give up their highly paid six figure positions at world renowned companies to earn a total of $328,000 over 12 months spread between them?"... not sure who you're talking about? Board are all non-exec (part time) with other full time jobs and/or non-exec roles. each paid $221,660 for the 21FY for the privilege. Non-execs are paid very well to follow an interesting story and attend 7 meetings a year, an exclusive type club circuit most industry types aspire to. Badenhorst was floating around Sth Africa as a consultant and landed a good contract consulting to MRQ. What is this "give up their highly paid six figure positions at world renowned companies" you speak of?

"Even if we disregard a 7.5% grade and accept 6%, the project will be viable. The cut off grade is 4%. Right now you're effectively stating is it won't be as profitable as Sf2th is claiming. None the less, it will be profitable. Just not "as profitable"."... A little premature and completely unsubstantiated to say "the project will be viable" but yes, in short I wanted to correct false assertions of the probable grade as it relates directly to potential profitability. Higher grade is good, though not a necessity. I strongly suggest your idea of "cut off grade is 4%" is clueless, both regards in's meaning in MRE's and it's meaning in mining Reserves (which have not been evaluated by the company yet).

Much more important than THM% is the assemblage of heavy minerals that goes into the THM%. THM comprising all worthless HM is worthless... no cut off is high enough to be economic. It's the valuable HM (VHM) within the THM% that counts, and then it's critical to know how much is recovered/lost during production, and then what the value of the VHM is. For example, SVM has a rutile only project, where 1% THM% would be worth approx twice what the recoverable value per tonne of Corridor ore with it's very low value, poor recoveries. Reporting THM% alone can be very misleading, though look very attractive on face value.

I agree Corridor will be 'economically positive' in the coming scoping study, right pricing and cost assumptions of course. Technically 'economically positive' means; revenue>opex, before finance, sufficient to repay the capex. Always someone having a crack at me for pointing out the shelves are full of dusty 'economically feasible' studies on projects that never got up (1% says SF2TH, still a bit optimistic). Gold projects only worry about the gold price, bottomless market, always a buyer, feeds into cheap finance and willing equity funding. Min sands needs off-take partners, ones that often disappear in downturns, fierce price downturns that happen with regularity and persist until someone goes out of business. It's the new mines with high debt loads that usually go out of business unless they are the very bottom of industry cost:revenue curve. The market will only fund projects most likely to survive a competitive industry jealously guarding market share, which these days usually means projects with government handouts (Coburn, Thunderbird).

"Why bother moving from exploration into development, with off-takes and production as the target, if none of this is viable?"... well, usually it starts as an exploration play, grades or assemblage might have been much better than expected. Even if it's not, never know when a commodity price boom will come along and raise your boat anyway. Plenty of companies/managers killed the pig during short lived price booms on projects that were never good enough to actually get developed. Managers are paid by shareholders to sell the story and push projects as far as they will go just in case, if for no other reason than give existing holders who funded exploration the chance to get out. Management never call their project dead until they have to, usually it just fades away into oblivion without any funeral. Lots of money to be made playing the newsflow, buying dips and selling pumps if one knew when and what the news flow offered (just saying). Management might be right and the market wrong, everyone knows a Disallowed that went from doghouse to the bighouse.

To be fair, management doesn;t know for sure how things will pan out until all the work's done, what market conditions will be. An investor's job is to fact check company spin and project ahead of time what a project's chance of success is and where the price is heading. My opinion is well known and substantiated, DYOR make your own mind up...after all, that's what you're here on HC for isn;t it?