Ann: 31.12.19 Quarterly Activities & Cashflow Report, page-3

Steve98,

What is there NOT to like! We have a very very good Management team indeed!

Now if people go back and read the Aircore drilling announcements they will find the further along the lines we drilled the higher the visual estimation ONLY.

Also they will read that the visual estimation ONLY was much much lower than the first lot of Assays from the first 8 holes ONLY!

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.

Final tenement permit approval awarded.

Taken from report -

"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

Not such a bad outlook for a company with a MC of less then 20mill currently.

Source -

https://www.australianmining.com.au/news/rio-tinto-gains-final-mozambique-jv-tenement-permit/