So you accusing people of posting assumptions then post "facts"...

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vertigo

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06/05/16

17:19

Post #: 17698713
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Originally posted by aurifice ↑

I don't know where some of you guys get your ideas from but the plain facts are:
1. Mantle has around $1m after the CR - probably less
2. Much of the assets of MCO have been disposed of to pay creditors - save for the mill, paste plant, winder and gen set?
3. MCO has prospects within the gap zone and below the bottom level but very little in the way of an immediately mineable resource.
4. It is unrealistic to think that operations could be re-started for less than $10m which would involve extensive exploration drilling from both surface and underground, re- establishing the underground operations, re-commissioning the mill, appointing COMPETENT management and mine staff etc.
From it's inception Morning Star has produced less than 1m oz - around 10,000 oz/annum average over 100 years of mining after allowing for periods of dormancy. It never has been nor ever will be a bulk mining operation so assumptions of 100,000 plus ounces of annual production are pure fantasy.
I am not a naysayer as I'm passionate about mining and the eastern Victorian goldfields in particular but I urge investors to ignore the armchair miners and their incessant ramping.

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So you accusing people of posting assumptions then post "facts" without freely available public information links to back it up. Perhaps start with "much of asset sold"? Or are you going to make apparent assumptions yourself?

MNM Price at posting: 1.7¢ Sentiment: Buy Disclosure: Held
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So you accusing people of posting assumptions then post "facts"...

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