sounds like a lot of backed up drill results are coming soon.
exploration target for expansion areas this month, but the much more important scoping study in April. It “sounds” like they are going to be coming up under the open cut from underground. I can’t imagine they’d be spending all the money and time on a scoping study for the pitifully small U/G resource. They talk about accessing the high grade areas, so hopefully that is indeed in the 1.5m Oz open cut area from below. I don’t know why they just don’t say that. bringing most of that 1.5m Oz into play NOW, would excite the market again.
as they can only go to the concentrate stage, that will be quicker and cheaper than the full production option, which they can’t do, due to government regulations with cyanide. So hopefully the scoping study will indicate a possible short timeline to production. If they can produce a decent amount (at least 50,000oz/yr, preferable 100,000oz), then this will fly, with POG so high. but they might start small and pay for expansion from cashflow.
we should know soon.
at least some light here now. Fingers crossed.
cheers,
ned.
MTC Price at posting:
23.5¢ Sentiment: Hold Disclosure: Held
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