MRP had been been focusing on Nimbus's Silver-Zinc ore prior to mid-2015, which unfortunately management had been struggling to find a milling+metallurgical solution to make it feasible with the then low silver price. So then they changed plans since mid-2015 to focus on investigating milling options to make both Boorara and Nimbus feasible.
Boorara's Stage-1 BFS for mining 86,000-91,000 ounces of gold over 3 years was meant to be completed by mid this year but there's no announcement yet - however they're due to present at Diggers and Dealers early next month, so it's an opportunity to hear of its progress from the new MD.
Nimbus' fate lies in the metallurgical R&D they are doing for the next half year - it appears with their latest announcement that they're intending to focus on the high grade lenses. However, how feasible would it be to mine these given the current silver price? We'll only know by end of this year - hopefully this new MD does a better job at keeping to committed deadlines than his predecessors.
Not sure about the Coolgardie ore though, they haven't updated regarding it for a long while now. If I recall correctly, it was decided that focusing on Boorara because Boorara is much closer to the Nimbus mills than Coolgardie is, and it could be possible to process Boorara gold through Nimbus's plant.
MRP Price at posting:
10.0¢ Sentiment: Hold Disclosure: Held
