My guess is funding concerns.By my mental-arithmetic reckoning,...

My guess is funding concerns.

By my mental-arithmetic reckoning, the 120k tonnes p/a capacity of the JV processing plant gives roughly 18 months of production based on the current resource, and at $1700/oz, which is around $28m of revenue for MAR in 2014 (and $14m in 1015) - so I'm liking this announcement in principle.

However, even though development of processing is funded, it still leaves only $1m cash (per last quarter's statement), and at $300k per quarter cash burn, it means MAR need funding in the next few months.

Hopefully that doesn't mean we'll get Pattersons or someone selling the price down and then "underwriting" a share issue at a low low price.. but based on my experience of explorers, thats pretty likely.

I'm sitting on the 500k share parcel I have, but not buying more for now, until funding is clearer.