Ann: Corporate Update, page-4

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hanna911

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05/10/18

11:20

Post #: 36009745
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Originally posted by Sentia717 ↑

Originally posted by Sentia717
While this announcement is delayed on HC it is available to read on the ASX site now. It backs up what I have basically been saying. It also mentions the possible/probable purchase of a mine.
So no intention to sell the Burbanks Mill but obviously it just hasn't been getting the throughput of ore to keep it busy. So the mill is going to become 100% owned by MXR and efforts made to secure more toll milling agreements to keep the flow of ore coming in sufficient quantities to get maximum throughput and the most economic return.
It appears that as part of that strategy there is a probable purchase of a mine (presumably a gold mine) in the pipeline and being worked on. If it is a gold mine then it looks likely that would then give MXR the capacity to supply ore to its own mill in quantities to offset any shortfall from some of the other companies that MXR has toll milling agreements with.
Obviously the CR being organized must be with sophisticated investors in the first instance and then a bit later current shareholders will be given the opportunity to support the company with a further shareholder CR.

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It could even possibly be its own mine up and operating, I'm sure we will find out soon.

MXR Price at posting: 0.1¢ Sentiment: Buy Disclosure: Held
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Ann: Corporate Update, page-4

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