sensational looking chart, page-9

I agree I'd rather they didn't rush into capital raising for production infrastructure. There isn't exactly a line of people waiting to buy it.

i think its important to remember Monarch were offering $65mil at the hight of the boom (pre GFC), so its value would be a lot less today, i'd say 40 million tops.

While the Magnet mill was good, it was a high throughput mill which was one of the problems Harmony had with it - finding large amount of appropriate grade ore to put through it. If we go down this path (depending on the grade we can pull out- but presuming its good) we would be much better off with a small sized high recovery mill.

Harmony are not really that interested in re-entering mining in WA, they closed down and sold because it wasn't worth the trouble for a company of their size. I would be surprised if it was tax concerns that stopped them going back into mining.

While I know little about the potential deposits and geological structure, I know that some of the geo's and engineers working with Aragon are familiar with the area and its previous owner. This was one of my major reasons for investing.

Sorry for the long post, just my 2 cents on a sunday morning, not sure if i'm dreading or looking forward to the next weeks trading!