Short Term Trading Week Starting: 4 Jun, page-98

Not an STT at this point, but take a look at the presentation put out by MRQ today in relation to their mineral sands project acquisitions.

They are playing in elephant country and have acquired projects with a large number of drill holes intersecting high-grade mineral sands at solid widths.

The presentation today outlines the plans to progress these projects toward JORC and feasibility studies. Also included is some very solid comparables to other mineral sand miners, showing just how stupidly cheap MRQ is at a $6m cap, given the previous drilling, location and potential scale of the acquired projects.

Vendor milestones for the project acquisitions are absolutely leveraged to delivery of shareholder value, so if they earn their shares it should come with some very solid shareprice appreciation for holders. If all milestones are met the vendors to take just over 50% of MRQ.

An excellent presentation highlighting a lot of exciting activity to occur during the second half of the year. Given the price is sitting around the pre-acquisition level it makes for an attractive entry before things heat up later in the year. Well worth a ready.