MOY 0.00% 5.1¢ millennium minerals limited

Yup, 65% recovery for a plant and sulphide upgrade that the last...

  1. 1,271 Posts.
    lightbulb Created with Sketch. 979
    Yup, 65% recovery for a plant and sulphide upgrade that the last announcement suggested was "operating as expected"! Geez, if 65% was the expected recovery I must have missed something in their presentations. I thought that was the recovery of the sulphide ores if they didn't upgrade the plant. There's no way they can keep going at those recoveries relative to the ASIC. So will the INOX or Pinox processing make any difference? They are a bit slow to update holders on whether their oxygen injection trials are having any influence on recoveries. It's looking like that step might be a make or break one, as they may struggle otherwise to convince anyone to lend them the extra $ 5 mill or so to build each of the INOX and PINOX stages for the mill. Another $10 mill loan on top of everything to date is likely to break this camels back. I'd hoped that profit would fund these expansions, but they are still operating at an operating loss, so there's no profit to use. I bought in a few months ago in anticupation taht completion of the mill expansion would see increased profitability and output, only to find that output has been reduced along with a 20% reduction in recovery rate!
 
watchlist Created with Sketch. Add MOY (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.