STTCOMP MOY, FA Long
Millennium minerals limited
mc $249m
sp 32c
cash $24.2m
soi 780917069
The main reason for tip is that the resource update is due over the next few days and there has been a lot of drilling and decent results since the release of the last resource update in april. until july this year there had never been any drilling at depth and i imagine any gold found underneath the project and current level of shallow drilling could only add to the resource (if any is found)... the main risk with this company is the short mine life so a substantial increase in reserves will go along way to significantly de risking the company. The company is also in a strong financial position with no debt and over 9m in free cash flow for the quarter according to the latest operations update.
