time to be holding...?

Might be time to finalise ones exposure here...

First gold pour any day...probably over the weekend...not sure how the market will rect in the current climate.

Pretty good timing for MLI if you ask me?

Also looking forward to the first full month of production in May...sands added to the circuit by now, so they should be able to get a decent feel for production outcomes.

First gold pour will be impacted by ramp-up issues, as such, I am not expecting it to be more than 1000 ounces or so...maybe less...for the first half - 3/4 month

With gold currently at US$717 per ounce and costs of US$352/ounce (margins of US$365), they are currently looking at annual profits over AUD$21m...or over 10c per share.

Given the mine life (30 years at the current rate) and expansion options, the current price of .38c is a joke.

Also...once the production has been confirmed to be behaving as anticipated, we can expect them to proceed with the upgrade to phase 2, resulting in an increase from the current 45K to 120K ounces production per year.

Upside here is enormous.

Cheers!