Hi mikepike,
I've taken an interest in this one for lots of reasons. They have good ground and advanced projects. The IPO has been slow to get moving, a sign of the times much more than a problem with the prospects. The IPO closing date is now extended to April 23 which is great for new investors as it gives more time for considering the offer. For the long term prospects of the company it has some advantages too as a few more administrative boxes can be ticked before the workload revs up.
I've thrown my hat in the ring to do some Geology work with MXD from time to time so I have an additional personal interest. The company has a number of exploration campaigns that I'm interested in. For example, the Wehla shear/fault hosted gold system has great potential for repeating sets of gold mineralisation both along strike and at depth. There are clever geophysics techniques able to image both the structural faults and the shales that host the gold. Wehla looks an ideal location to use these techniques to locate and orient followup deep drilling.
A third reason attracting me to this float is a number of Victorian gold exploration properties where I have an interest as a geologist. These have potential to become IPOs in their own right. The successful float of MXD increases the chances for these embryonic projects growing a life of their own. As they say, success breeds success and Matrix Gold already has the marks of success. Why? The answer is the production ready state of the Burkes Flat Project. Mining is expected there within months of listing and production of that all important first bar of gold is what marks a real gold mining company.
The success of Matrix Gold isn't guaranteed but imo the company is in the front rank of likely success stories. The Burkes Flat Project is the key and the other projects provide synergies. Wehla has potential to be a substantial set of gold deposits clustering close enough to be accessed by a single mine. MacIntyre has potential to provide spectacular gold values with recent mining already having produced 10oz/t gold values or better. Amphitheatre is a second string in the gold production stakes. Alluvial mining here would be relatively straightforward. This project already has infrastructure in place and pre existing approvals. It isn't quite production ready but it's close. Finally St Arnauds South gives a bit of blue sky with potential for both gold and silver discoveries.
MXD
matrix gold limited
