Yea SPX went for over $500 Oz Aus for Penny north with a average grade of 15g/t. Due to the depth of the lode it is a fully underground operation, with RMS working in a ASIC of $700oz to mine, a very profitable operation, easily justifying the TO price they paid.
Our starlight and whitelight lodes are basically from surface making for a largely open cut mine with a lower resulting ASIC. The article crom has posted is one of the better I have seen although for the above reasons I'm more bullish on the value of the high grade lodes not currently included in our resource currently valuing us at over $1.00, hopefully the market shares this view once the upgraded resource is announced
all IMHO etc
MGV Price at posting:
61.0¢ Sentiment: Hold Disclosure: Held
