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1.3¢ magnum mining and exploration limited

Hi @yabo, wondering if I could get your thoughts on something?...

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17/04/24

20:58

Post #: 73395538
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Originally posted by yabo: ↑

It takes a certain amount of timing from when funding and logistics are agreed, until the mine is operational.

Not sure about the exact local times with winter, but the mine and development phase would have to be completed by say November this year or they will have obvious problems.

If they had received funding at Christmas, and purchased a plant then, this would have given them all of spring, summer and Autumn to construct the plant.

Now they wont have funding until at least Spring. Any second hand plant wont be nearby so needs time to be broken down, shipped and then rebuilt on site.

I just think that they have now run out of time for a start up this year to be feasible.

Therefore you would ask why you would spend money on developing the plant and mine at large expense if it is going to sit idle over winter.

Therefore they will probably do pre-works this year and look to be ready to develop early 2025 when the weather turns.

Therefore it becomes 18 months.

They wont be developing anything over next winter and wont be in production be then either now.

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Hi @yabo, wondering if I could get your thoughts on something? Do you have an email address I can email?

MGU Price at posting: 1.5¢ Sentiment: None Disclosure: Not Held
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