OK, so doing some quick calculations....
Since the beginning of the financial year (40 days ago), the silver in ground value of this company has risen an additional $705 million dollars!!!
That is all pure profit!! It costs nothing more to get it out of the ground then what it did 40 days ago.
MKR's JORC compliant silver resource is now worth over $2 billion. And don't forget the gold!!
They currently have drilling rigs at both the gold and the silver site, aggressively seeking to further increase their resources!
The company has stated they will soon be the biggest silver mine in Australia.
They are a new producer and already have their mine up and running!
The market cap is just $18M above the mine cost and they have an additional $15M of infrastructure (airport, accommodation facilities etc.)
They have approx $7M in the bank and a debt of @$20M which should be paid back this year.
They are currently unhedged in both gold and silver!
The market will catch up very soon. DYOR.
MKR: The Best Silver/Gold Play on the ASX.
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