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39.0¢ musgrave minerals limited

Ann: Quarterly Activities & Cashflow Report, page-18

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CashedUpBogun

8,334 Posts.

914

08/11/22

14:41

Post #: 64650382
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Originally posted by Jacko22: ↑

Well, I guess after all the postulating on these threads about GCY having the only mill in the area not constrained with throughput, that option may now be off the table. Refer to todays GCY voluntary suspension to develop a new strategic operating plan (including a new mine plan) and implement a financial restructure!

Not mill constrained, just has poor grade and poor mine design and perhaps operational issues as well? Maybe some high grade ore at a low strip ratio would have helped in the most recent past? By waiting, maybe RW can now ask his own price for toll treatment....??

All that whilst MGV continues to drill and continues to extend high grade, shallow deposits right across its tenements. And doing it whilst managing a tight budget predominantly weighted towards putting holes in the ground. Obviously there will be a CR at some stage, but probably not until the New Year and after the PFS has dropped....unless EVN knocks on the door.

May even be some cheap mills on the market by then....

AIMHO...

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sad day for goldies- let's hope it's the last to go down.

in saying that, it's not game over for GCY - and if anyone can pull off a resurrection it's Lawson. I really like that never never discovery

MGV Price at posting: 21.5¢ Sentiment: None Disclosure: Not Held
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