It will be a great announcement.
-Deibt paid down
-Road paid from operation cashflow $15.6 mill
-Increase in cash $106 mill end of June (today imo they would have over $110 million in the bank)
-etc
The land surrounding Foxleigh mine when compared to Lake Lindsay & Oak Park is massive what we have.
They are planning to start up another operating mine on Foxleigh grounds that's why they are drilling and running a conveyor belt between Foxleigh washpant which will increase production and increase sales which equals more money in the bank
We have 52,000 hectares of land still to explore. I'm sure they could get a few more open and cut mines up and running.
Expect more drilling updates and Jorc updated down the track.
They are looking to purchase other mines, and also in the background they are working on getting the mine in Indonesia up and running.
Anglo decided to hold onto Lake Lindsay & Oak Park as they are making very good money. I'm sure Anglo will be kicking themselves for selling Foxleigh.
To date Morgans have bought well over 12 mill shares on market at a average of 7.9cents.
This will be the first quarterly released while we have been trading
This is too cheap, imo should be around 25cents
