We need the gold price to push up around 1700 or more to get some decent financing terms and get this mine up and running. They need to raise a good 10-15million to finance a drilling campaign into the gap zone and get someone in who knows underground mining. They also need to prove up a resource. I still think this could be mined profitably but there is a lot of leg work required beforehand. They also need to guarantee they can mine 80ktpa. Some analysts are saying that we are due for a sharp price increase in the POG which can only help the finance discussions and hopefully get this running at a profit. It is a long shot though IMO
MCO Price at posting:
11.0¢ Sentiment: None Disclosure: Held
