Good day for Gun. The significance of the EPA approval is that...

Good day for Gun. The significance of the EPA approval is that it is the last remaining hurdle within Australia. The BFS is completed and they are negotiating with lenders. The mine design is relatively simple and does not need complicated engineering thus keeping the required capex low.

The next hurdle is to find customers. The company have indicated that they are in negotiations with more than one potential customer, certainly they have been to China a few times recently. An article in The Age steted the Gunson are 'spoiled for choice' as far as customers are concerned. Should enable them to drive a hard bargain with zircon being at or near record levels at the moment.

It seems to me that it should now be a straight line between here and production Q2 next year. The SP should rise along the way. All this is without the potentially mega-exciting Mt Gunson drilling over the new year. That could make all this seem like small beer. (After all they are called Gunson and not Coburn sort of indicates what the company sees as the bigger potential.)

It is hard to find a direct comparison on the market for Gun but if you take a look at Bemax and compare SP against number of shares and known depth of resources Gunson are very cheap on Coburn alone.

Go the Gun

Regards,

Pagarsi