It is difficult to give a future valuation as we do not have an idea of how big the ore bodies are nor the strike extent and depth.
But what we do know is that they are situation on historical gold deposits and as such would have data sets to look at. We are also informed of their tenements sitting adjacent to existing gold mines and operations held by majors. Anthill and Googarrie are near term delineation and development opportunities with low capital costs to production.
Their battle plan is really on solid footing as it would give them cashflow to move on the bigger tenements [Bullabulling]. James Searle and co. look like they are enthusiastic on discovering a major multi-ounce deposit and i am comfortable with proven management. Management that have explored, delineated and produced other gold mining operations.
MKO Price at posting:
22.5¢ Sentiment: LT Buy Disclosure: Held
