"We must trust that positive/ confidential deals are being considered".
Hi Sarg,
The recent deal between MMG to sell their Golden Grove Cu-Zn mine to EMR Capital for a whopping $AUD 298m (or $AUD 278m if the $AUD 20m they have already stumped up is subtracted from the total outstanding) has been brought to my attention. Obviously, GG is already in production and there is a mill/ infrastructure in place, but if we have a look at GG's mineral resources (inclusive of ore reserves) as at 30 June 2016 we come up with:
7.9Mt of high-grade Zn
9.2Mt of Cu
0.46Mt of Oxide Au
That's it. All for close to $AUD 300m.
Now, if one goes and compares what we have at Maronan against these Golden Grove resources, even accounting for capex, one can see that Maronan must surely be near the top of the shopping list for those with the appetite and deep pockets.
http://www.mining-technology.com/news/newsmmg-to-sell-golden-grove-copper-zinc-mine-5708606
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