Thanks Peppie for sharing, great insights in your posts ! I totally agree everyone should do his own due diligence and not just rely on others opinions (bull or bear for that matter).
You were absolutely spot on stating that the mineral sands mining is a tough business and that many things can go wrong ! that is the importance of a margin of safety for the project CAPEX and more importantly to build a pilot plant or at least do thorough metallurgical tests before starting the project. MZI management failed in both regards (unrealistically low CAPEX, touting it and bragging about it being the lowest in the industry !!! CRAZY guys, as if that was a good thing......+ they didnt do any pilot plant or thorough tests to understand leucoxene recovery and what equipment is encessary (mind you a new mineral in the mineral sands industry which never had been extracted commercially !!!).....They went on blindfolded, under-capitalized, technically ignorant, and overconfident...it was a recipe for disaster...hopefully things may turn around soon...if they make more efforts on costs cutting the project is already at breakeven levels and could be profitable...
MZI Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held
