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lloydray

1,566 Posts.

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26/07/18

13:53

Post #: 34575720
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Originally posted by Dazedandconfused ↑

Hi lloydray

About MRP ... I went in fairly hard on this late last year [lost a few $'s]. The resource is interesting and over time I expect the Co will JORC +1Mozs. The issue is how they are going to effectively monetize it. Their best chance of doing that was to toll mill the ore with WGX at its mill which could be accessed by backroads not far away [meaning the trucks could be loaded by another 30% not using public roads]... but NST recently bought that operation and I have no idea if that is still an option.

The problem with the Co is on the current known size of the deposit is it's still a bit small for its own mill... toll milling chews up a lot of the profit. I keep watching because eventually they might prove up a bigger resource in which case it can be a stand alone or maybe a T/O. The SP right now is probably about right [imo] ... but even if things improve there isn't a lot of meat on the bone imo.

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