Did have contact with Brett last night. Emailed him a few questions & most were answered satisfactorily. Credit to him for the quick reply (whilst he was travelling on a plane to Toronto possibly going to PDAC).
I wanted to know why he made the statement : "The proximity and grade make expenditure to further define this area more attractive at present than looking at regional deposits of lower grade”. I stated the two high intercepts at Heemskirk which were 42.0m @1.1%SN inc [email protected]%SN & [email protected]%SN inc [email protected]%SN. Short answer was that the feed grade was low compared to the existing Renison ore but this project could possibly stand on it's own but would require more construction / permitting time than Ringrose. So Ringrose has the current focus & it would be unlikely that Heemskirk would be part of the MLX equation at this point of time (the earliest record of a bid for Heemskirk was in the 80's) I also asked why one drill hole went to 1240m - it was to search for the possible source of the tin mineralisation & understand the geology of this area. It would of been very nice to to have that intercept if it had struck !
Rentails would also be not be considered till 2026 - until all studies are completed especially since investment will be at $400m+. His reply states this project is still one of the priorities. Hopefully the economics stack up.
MLX Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held
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