Mutiny Gold (ASX: MYG) has some very big news in the pipeline with the ASX granting a trading halt pending the release of the Bankable Feasibility Study on the high grade Deflector gold copper deposit in Western Australia.
Mutiny has been ticking off the milestones in 2012, including delivering maiden high grade Ore Reserves earlier in the month, along with a production plan.
The Deflector maiden initial ‘LOM production plan’ produces 450,000 ounces of gold equivalent including, 349,000 ounces of gold, 17,530 tonnes of copper and 429,000 ounces of silver.
This ‘LOM production plan’ includes reserves of 332,000 ounces of gold equivalent. The Reserve breakdown is 1.95 million tonnes at 3.9 grams per tonne (g/t) gold for 243,000 ounces, 0.8% copper for 15,530 tonnes, and 5.9g/t silver for 368,000 ounces.
Highlighting the upside of Mutiny, the recent highly successful exploration expansion results will see Deflector as potentially reaching a 10 year plus mine life - rather than the initial forecast of seven years.
The halt will last until the earlier of an announcement being made to the market, or the open of trade on Tuesday 3rd July.
MYG Price at posting:
7.0¢ Sentiment: Buy Disclosure: Held
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