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39.0¢ musgrave minerals limited

Ann: WGX: Westgold Announces Takeover Offer for Musgrave, page-86

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09/06/23

11:22

Post #: 68213974
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Originally posted by Caromb15: ↑

My thoughts on the offer.
The MRE was announced 31 May 2022 and the stage 1 PFS on 5 May 2023.
A lot of drilling has been done since the MRE with the potential to add considerable ounces, and upgrade the inferred ounces.
The latest from MGV , 23 May 2023, after the good results at Leviticus was:
"Activities associated with delivery of a Stage 2 PFS for the Cue Gold Project are continuing. A significant amount of drilling has been undertaken to convert Inferred Resources to the higher
confidence Indicated category on our high-grade Break of Day and White Heat deposits. This will lead into a Mineral Resource update in late 2023. The Stage 2 PFS will focus on adding mine life and further enhancing the attractive economics of the project."
So the value of MGV should not be set by the stage 1 PFS but really needs to be set by the stage 2 PFS.
I'm happy to wait for late 2023 unless someone makes a good case that they are offering stage 2 value.

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amazing it took so long for that critical issue to be stated.
well done

MGV Price at posting: 30.5¢ Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

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