morning traders 31 / 7, page-53

MYL quarterly

Highlights  Transformative quarter for MYL with the successful exercise of the Bawdwin option.  A$35 million placement completed oversubscribed, with strong institutional investor support.  Cash balance at 30 June 2018 of $16.6 m. with nil debt.  Perilya becomes key cornerstone shareholder alongside Mark Creasy, with a 19.9% interest in MYL.  Strategic Alliance entered into between MYL and Perilya, which allows for future technical and financial support.  Resource upgrade with substantial Indicated Mineral Resources declared. As at 2 July 2018 Indicated and Inferred Resource Estimates are 82.0 Mt at 4.8% Pb, 119g/t Ag, 2.4% Zn and 0.2% Cu, (0.5% Pb cutoff above 750m RL, 2% Pb below 750m RL).  Bawdwin JV established and pre-feasibility studies now underway.