The Goldsworthy East initial results were pretty poor which means the geophysics clearly wasn’t working. I just don’t think there is much point clinging to that hope.
This deal with Paramount is really good. Firstly it means that in a couple of months Macro will have $5-6m in the bank, so there are no cash concerns . More importantly it gives Macro access to a large modern fleet of heavy equipment at competitive rates.
Paramount is right in the middle of the mines services business and clearly believes it is going to become a successful player in the sector. The principal Shawn Tilley is investing a lot of his own money in it.
It means that Macro can start negotiating contracts. I reckon pretty soon we will be looking at a cash flow positive high growth company.
M4M Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held
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