MDI middle island resources limited

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2.3¢

Ann: Sandstone gold project surpasses 730,000oz with new resource, page-22

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bobasteve

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14/11/20

23:40

Post #: 48879190
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Originally posted by CBRJT2020: ↑

Rick hasn’t been saying they are going to focus on the underground ounces - the strategy is to mine the open pitable resources.

That’s been the strategy for a long time now; go back and re-read the announcements.

If you exclude the 500K ounces from the Two Mile Hill underground resource, MDI still have a minimum of 232K ounces, which will support a life of mine of about six years (at around 30-40K ounces per year).

If we use the average ASX EV/Resource for WA's gold explorers of $303oz, to estimate what the SP should be today, that’s: ($303 x 232,000)/3,250,000,000 = 2.16c per share.

Is it feasible to recommission and mine 232K ounces..?

The Feasibility Study will confirm that, but if you look at what Beacon Minerals have done for an example, you’ll see their Jaurdi Gold project is feasible with just 118K ounces.

If you then consider 30K ounces being mined annually at an average price of $2500, that’s $75M gross revenue (before costs). If we use a conservative AISC of $1000per ounce, that’s $45M per year, giving MDI plenty of cash to consolidate or JV in the region.

MDI is a speculative play, but on the research I’ve done, I think it’s got legs.

Do your own research.

GLTAH

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Beacon Minerals is sitting at a market cap 3 times of MDI right now. If they were production feasible with these numbers and a gold price at

Then people familar with MDI should know the result come January...

Been noticing a lot of downramping on MDI posts and end of day auction shenanigans, MDI holders should know the story and understand the bigger picture, best to drown out the noise.

MDI Price at posting: 1.4¢ Sentiment: Buy Disclosure: Held
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