financial report year ended june 30th

MXR released its Financial Report for the year ended 30th June.

There are some comments at times that are interesting. For instance :
1. It is stated in the Director's report :..."Maximus’ most valuable asset is its Adelaide Hills Gold Project
containing the Bird in Hand gold deposit "

2. About Sellheim : ....."Although predicted grades were achieved, the throughput possible with the exploration plant available, and difficulties experienced during the wet season, did not allow long term profitable production.
It was evident that a larger plant with higher throughput would be necessary, the configuration of which was still to be finalised."

3. Looking ahead, this is said :......"Maximus has established an Exploration Target for Deloraine of 800,000 to 1,100,000 tonnes at grades of 15 to 20 g/t Au1. If the Exploration Target can be realised, Maximus may be in a position to develop these historic gold mines."

4. About Sellheim :......."At our Sellheim gold project in north Queensland, we have stepped back and are undertaking additional sampling. This fully funded work programme should be completed early Q3, subject to this year’s wet season."

5. Also about Sellheim :......."A commitment to full production will be made when we are confident that we can deliver on our production forecasts"

6. Further to that :......"Additionally, we will continue to evaluate additional alluvial resources within our tenements. We are encouraged by the potential held within our tenement package. We will also progress the hard-rock gold and base metal exploration at Sellheim."

7. About Narndee- Windimurra :....."Early in the financial year, Maximus flew a new state-of-the-art helicopter borne electromagnetic survey over the entire complex. This survey located a number of first order conductive anomalies which remain to be evaluated. Several companies are reviewing the data with a view to enter into a joint venture to fund ongoing exploration of this exciting
but grass roots project."

So there is life in the old dog yet !