I've been out all day so just catching up with all the opinions......
"MKY doesn't have a proven resource" - the area has been mapped by the Queensland Govt - same geological mapping that was done for Aurukun/Rio/Cape Alumina.
In the case of Aurukun it is identical, containing substantial areas of bauxitic laterite. If Chalco is excited about Aurukun and ready to invest $$B's for 650Mt as defined SO FAR by this mapping, then I sure am excited to be a neighbour.
IMO, the valuation that needs to come out before AGM will identify an estimated resource. That must only be days/week away if AGM is held late November.
"these chinese parties were meant to be around for the past 8 months" - what proof do you have that they haven't been?? I don't think AB just sent them an invite yesterday - I'd suggest negotiations have been ongoing but applications needed to be at a certain stage to go forward, beyond talking.
Cape Alumina is only 40% owned by MLM - we will have 100% ownership. MLM's sp is currently 28c and some don't think we are going to see a substantial sp rise??
MKY
mky resources ltd
