re: Ann: More Exploration Success and New Lod...
just when one thinks the stream of good news re MLX must be coming to an end... today they announce discovery of a brand new tin lode!! This is completely separate from and in addition to the 'bonanza' drilling results announce d a couple of weeks ago. The new 'Mawson Lode' is "immediately accessable from recent underground development and contains an indicated resource of 97.7m tons @ 1.77% Sn = additional 1700tons of tin metal. What is esp heartening is that the deposit is fairly uniform with WIDE intercepts. examples include: 20.2m at 2.39% Sn 32m at 2.27% 15.5m at 1.78% 12.5m at 4.16%
Then they chuck-n this tit-bit: "In addition deeper drilling of Federal Deeps ore body, has further extended the known depth of ore-body". Results incl. 5m at 3.19% Sn 5.9m at 2.49% 7.8m at 1.37%. All this is adjacent to current mining and will be quickly accessable!! Hence, will make increasing production to 10,000 tons/annum rellatively simple/cheap. For context MLX contains 85% of Australia's tin reserves. It's not fair.
MLX Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
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