Hi All
I've been watching CRC for sometime but wasn't willing to commit until negotiations with objectors were resolved. The pathway to production now seems relatively clear, but I have a few queries:
1. A capital raising is likely in the near future. When do you expect this given the current cash burn?
2. The mining lease is awaiting approval. I assume this is a mere a formality?
3. The JORC Resource does not include the recent gold discoveries at Ruby Lode, Chinamans, Dargues West or Carmine. Has the company indicated when a new JORC Resource is likely?
4. Has project financing been finalised or is this subject to due diligence, credit approvals, completion of project finance documentation etc?
I have a few shares in MYG which is aiming to complete a Definitive Feasibility Study by mid year, and begin production at 50,000 oz/yr by late 2012, or more likely early 2013. The CRC resource is smaller, but the project appears much more advanced (de-risked) and better value currently.
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