G'day all..
I've been a l/t MGY holder.. and was pleasantly surprised and relieved that we brought another project to the table.
Graphite in Madagascar was not being recognised in the market.. GOLD in WA is certainly a much better option atm
RRL involvement is crucial.. as it gives this project street credibility..!!
RRL have similar grades, mines and their management made it work and SP went from 15c to one time almost $6.00. RRL have thus taken an option on the future of this deposit by investing 10% in MGY and management.
It was probably too small for IGO at the time.. and they def have other things projects/commodities on their plate..
Shallow, open pit is the key here.. with higher grade shoots in-between. Further drilling will prove this up with greater certainly.
Extension of the deposit have not yet been tested.
Regional exploration? Nothing much has been done.
A$ gold is flying.. at more than $A1,600 oz atm.. MGY could have a high-cash generation project.. with margins around the $400 oz for 80,000 pa production.. Do the sums..
