I bought a lot of these at 0.31c , 0.22c and 0.08c and had...

I bought a lot of these at 0.31c , 0.22c and 0.08c and had always hoped Junefield the major shareholder would fund Mariella ( as they did ) and then fund Guadolapito .

SO from a long term holder even though the stock has risen a little most holders are way way under water at anything less than 0.20c and will hold .

The Guado project is the biggie in my view , but one never knows if the Illo drill results are good or they come up with a funding partner in Brazil I may be wrong .

Back of the envelope numbers on Guado , looking at Magnetite or Andusalite are almost so big it seems the calculator has malfunctioned . A JV partner is the key as the cost to produce this size of a project would be $100m Plus and not beyond a Junefield or Cape Lambert the 2 biggest shareholders but is definitely well beyond MHM market cap or funding capability .

If a JV partner can be found whom funds the plant build , maybe gets an off take agreement and LRS keep 30-50% of net production proceeds then the 7 odd cents price they are now
will also seem like a calculator malfunction in my view .

The numbers I assumed that got me excited were based on the JORC on Guado .

That JORC initially saw the price move to over 0.45c , but delays and a poor resource market has seen it fall away .


Happy to discuss the numbers for those new to the stock


C