Important to also note that when MDI acquired the Sandstone Gold project (two mining leases + plant) in 2016 from Black Oak Minerals, they also acquired all the historical drilling data undertaken by Herald Resources and Troy Resources to the two tenements now held by MDI but also the tenements held by AME.
AME has great tenements and prospects, which is why Goldsea and Adaman Resources want control. However, whatever route AME takes, I find the future of both companies intertwined.
The drilling campaign (phase 1) undertaken, was one of the largest so far for the year by any explorer in WA.
Phase 1: 13,400m RC (results for 11,006m outstanding)
Phase 2: 3,000m RC (define inferred resources from targets defined in phase 1)
Of course, I expect we will obtain good results in the targets on our tenements (Rick seems confident and likewise the billionaire holders who increased their stake) to make recommissioning the plant a very profitable prospect.
However, you cannot ignore the large chunk (800 Km2) of prospective Sandstone Goldfield that AME holds in their tenements and a recommissioned MDI plant being their quickest and most viable route to production. (some of their projects literally border our plant)
MDI Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
