OK I regularly spend time musing over MCO, sad but true!! A strange part of the JV struck me tonight. Does anyone else know of a JV where the partner earning the majority share doesn't do the exploration themselves? I can recall a few like CQT and Goldfields and ARE and Straits Resources and the new partner has always taken the major role. Now we know Ample Rise has had a number of geologists on site so I wonder what will happen once they have earned their 51%. Will MCO continue to further the projects as the operator or will the Chinese move in their own crew? In a way I would prefer they take the major role so MCO can concentrate on their 100% owned prospects and just sit back and recieve their share of the gold. Another question is that if they take over as operator will they ramp up the spend? If so MCO will need to pull good oz as they have to stump up 49% of the costs compared to nil while they earn their 51%. I can't remember when the JV started but reckon there's 6-8 months before the questions raised will start to be answered. Nothing earth shattering just a point of interest to consider as we await some news.
Cheers Mal
MCO Price at posting:
41.0¢ Sentiment: LT Buy Disclosure: Held
