MDI 0.00% 1.8¢ middle island resources limited

Ann: Fourth new gold deposit defined at Sandstone project, page-35

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  1. 2,596 Posts.
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    We are still very early into the drilling campaign and the activities that are planned for the next quarter are way more significant.

    We will be undertaking extension drills & Infill drills to the recently discovered prospects. We had some outstanding hits at McClaren & McIntyre, particularly the the bonaza 4m @ 90.64 g/t.

    Also, will be completing the metallurgical testwork, which is 500x times for important than the assays from drills, this is something that is actually bankable and usually increases the head grades from the assays.

    The PFS is being pushed back to the September quarter to enable an updated resource and new open pit designs.

    What has been announced is nothing compared to what is to come.

    You can do case studies of the recent takeovers bids (which both will accept) of AME & ARS. Director's from both companies have recommended to shareholders to accept and you can study the relative Enterprise value of each company. It will enable you to develop some form of a benchmark to assess value. Do keep in mind that once MDI recommissions the processing plant, our value significantly increases, particularly, if Goldsea wishes to make a Takeover Bid. It'd be at a premium to what they offered AME from a EV perspective.

    People Trading off the back off Assays from drills makes me want to puke and which is why so many get caught with their pants down.

    Say an explorer may have a prospect than only contains 10,000oz gold has a poor exploration strategy and continually strikes the same target for no real gain except to repeat the same announcement of "high grade gold intercept @ #### 30m @ 12 g/t"... Complete stupidity....


    Last edited by Corgi: 08/05/20
 
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