That the Chairman and MD of Ramelius both joined MOX to support this project with their detailed understanding of the western queen ramelius resource says much about the potential upside of the project. They would not have pursued this this if they didnt believe the probability of further high grade mineralisation north of western queen, in between the two existing mines, and below the whole project area is very high.
That Monax now has a 60% stake in two open pit gold mines of known high grade mineralisation makes this a very attractive prospect. With an upgraded resource estimate expected in the December quarter there is limited time to accumulate and get set in this before the MC prices in fair value.
The mention of pegmatites and possible lithium is an added bonus.
Fortunate to get set last week at an entry level equal to directors entry prices. Sure thats why there is the standoff on market at the moment. For me this is a no brainer MC play at 4M with what they now have to work with.
Ian Gordon was MD of Ramelius for 7 years. Pretty confident he sees this project as a great launching pad for Monax.
MOX Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
