if anyone is still interested in this here is an interview with Quinton Hennigh http://ceo.ca/wp-content/uploads/2013/05/Quinton-Hennigh-Audio-May-13.mp3
to summarise: Quinton is a geologist with a blue sky dream that the basin west of Beatons creek carries an extension of the shallow 2 layers of gold he has uncovered at Beatons and it runs a long way and is an analogue of the Witswatersrand basin (the largest gold deposit known). He has a JV with MOY for Beatons (the lease is about 6sq km) and agreement with Mike Creasy for a further 600 sq km. He has drilled <1/2 sq km at Beatons. His plan at this stage is to mine at Beatons for the estimated 420k oz there and use the cash flow to continue to search for the next Wit. His company Novo Resources is on the Canadian SX. MOY stands to share 30% of the cash flow from Beatons which could be a considerable amount. MOY is also on the ground with resources - processing plant 12km away from Beatons, worker infrastrucrure etc that Novo will need and so is in a position to be involved in a longer term development.
MOY Price at posting:
3.7¢ Sentiment: Hold Disclosure: Held
