MUM 0.00% 0.0¢ mount magnet south limited

mums the word, page-4

  1. 29 Posts.
    I don't want to dampen your enthusiasm but having someone else's mill on the leases doesn't mean they can turn it on and off whenever they want. Generally a company would want to prove up at least a couple of years reserves before manning up the mill, arranging power supply contracts etc etc and then starting it up again. Providing it's still there and EQI haven't sold it or moved it somewhere else.
    Having said that Kirkalocka looks like a potential company-maker if they can find some good extensions. Pity they moved the MD on after he'd just finalised the deal!

    MON bid $60M for Hill 50, 2.9Moz resource. MUM paid $5M for Kirkalocka, 140Koz resource, bigger land holdings. You do the maths. Very good deal on paper. But no resource experience left on the board.
 
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