Paper
Let me walk you through it.
Page 3 of the presentation states...construction scheduled to start February 2015
the previous schedule in the previous announcement on the miners review had it slightly earlier but lets say that's just a professional slip up.
so presumably they are have the money and are concluding the contract a process the bank calls teeth extraction
there is no indication of any other activity
they are dudes at drilling
it wont be100% of the money
the bank money is spent last
so they will need a funding raise via rights issue or merger and it needs to close before Christmas to meet the February 2015 commencement date...(who knows why it would commence in 50 c degrees plus heat !)
These funding things take 8 to 12 weeks so either they are not professional as you call it and the timeframe is not real or a funding announcement is imminent and indeed they must be working on the prospectus right now...which is strange because the MD is lording it up in Melbourne enroute to Sunny Queensland so who's doing the work...or is the timeframe on page 3 not real ?
Im starting to think Saber x warning might have been on the mark.
MYG Price at posting:
3.4¢ Sentiment: Buy Disclosure: Held
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(20min delay)