MRP have had some nice results out this morning. If you view the sections mining of this zone would require a huge capital cost as there is at least 150 to 200m of waste to remove before you get into the mineralisation. Plus the waste between the 2 pits as well.
Results would need to continue to be strong, although I can't see this future mining venture showing economic success given the capital costs - the previous low cash costs should not be used as a guide given the enormity of the capital required now to develop it.
MRP Price at posting:
38.0¢ Sentiment: None Disclosure: Not Held