for vendor, page-5

DR Cash ..
Just my thoughts.

We all know ERGO will be a profitable operation as it will be a zero cost U3O8 producer with gold at $450/oz ! - see the recent presentation/announcement.
So you can easily say it'll make a profit of $80 mill / annum at the current U3O8 and gold price at stage 1 and a $160 mill profit at stage 2.

As it can operate at stage 2 levels with the current WERGO tailings for about 10 years or so that should easily give it a $1 bill plus market cap.

but ..what about ERGO?
there's a lot more to MLI than WERGO and a lot of the value and market cap may eventually come from the newly acquired 1.7 bill tons of tailings in the East Rand (ERGO) which have only been assayed for gold thus far.

assuming similar grading of Uranium to the Wergo tailings and MLI can conservatively be talking about 130mill lbs of U3O8 and 12 mill oz or thereabouts of gold... then there's the sulphuric acid ! .. the pyrites are expected to have the potential to be converted to millions of tons of sulphuric acid.

How much is a fully operational gold mine with a resource of 12 mill oz worth?
DOM for instance has a gold resource of 1 mill oz and a market cap of $500 mill !

how much is a fully operational U3O8 mine with a resource of 130 mill lbs of U3O8 worth ?
PDN has a non JORC resource of 200 mill lbs and a huge infrastructure and capex spend ahead of it.
Market cap of PDN is ridiculous for what it is and has - basically a non JORC resource and a huge spend ahead of it.

With the sulphuric acid credits ,, MLI may virtually become a zero cost U3O8 and gold producer after the free supply of sulphuric acid .. that would be amazing or maybe a zero cost U3O8 producer at the gold price of $100/oz ?.
So if the U3O8 price is a low $70/lb and the gold price is low $600/oz .. it could perhaps make a profit of $70/lb plus a profit of $500/oz from the gold.
wouldnt that be amazing?

Plus more tailings are due MLI's way .. MLI I'm sure will have a U3O8 resource equal to PDN's plus heaps of gold and sulphuric acid.

What about the recently floated WWI .. with the potential of 30 mill oz of gold .. Central Rand next door has a resource of about 50 mill oz !
This should also have value... I bought some WWI shares too by the way.

So MLI has the potential of PDN's market cap x 2 in my opinion.

All MLI lacks is broker coverage.