MGU

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1.3¢ magnum mining and exploration limited

Ann: Buena Vista Project Update, page-107

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Kanems

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14/02/24

13:33

Post #: 72402306
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Originally posted by yabo: ↑

If I recall the 12 month target was floated last year when they were assessing second hand processing equipment that was available. Given the delays in offtake/funding I presume that this opportunity either didn't suit their requirements or it was sold elsewhere if it was any good.

I think that this would impact on their potential timing.

Secondly, the project is frozen over in parts of winter, which means that development activities for a mine are very difficult in those conditions even though a mining operation once operational can work through winter.

Given we are in mid February and funding will take up to 3 months, then I think that next winter will have an impact on development timetable that might of been avoided by earlier funding and access to existing second hand plant.

If they bring forward funding then that may help but its difficult with out understanding the project development scheduling, and which parts are impacted by next winter in Nevada.

Therefore, personally it probably sounds realistic as we stand today and they are awaiting offtakes and funding.

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So wouldnt it have affected the year timeline aswel?
and didnt neil say there was an abundace of 2nd hand gear around? It was just differant sizings

MGU Price at posting: 1.9¢ Sentiment: Buy Disclosure: Held
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Ann: Buena Vista Project Update, page-107

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Ann: Buena Vista Project Update, page-107

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