Yes they definitely need money to progress to re-start of mining.
Also still need to pay another $2 million for the Morning Star mine, plant, assets and other mines and tenements.
Flip side is that they are seeking to offload all their other assets. Granite Castle is jorced for a couple of hundred ozs gold with some silver, but no progress towards mine development. Norton is a only tens of thousand of ounces of gold but just waiting on approvals and metallurgy results ( both way overdue). Some plant and machinery has been bought and in situ. I have been to this site and it is a very simple small open cut, at surface, gold operation.
After today's ann have to ask yourself how much gold could there be in Stacpoole's reef? They seemed like good sized dimensions for a typically narrow high grade gold mine.
MNM Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
