In the June quarterly the group refers to a wait and see approach on the one hand and having the largest resource base in the Central Murchison on the other - without a process plant and infrastructure I note! Across this quarter, they refer to identifying high grade processing options etc etc. At some point in time the next step in the CMGP project needs to be made. MLX is either going to become a producer or its not. Notwithstanding volatility in the POG, you are either in or out as far as I can see. There is $80million to work with. I sure hope there is something decent to report at the end of this qtr in terms of advancement to production. I get the feeling the POG is looking good for the short term, hopefully the medium term as well. If this is the case, options like RDR will appreciate, making M & A prospects more expensive. The concern regarding lost opportunities, or opportunity costs has been raised in the past by a number of posters! I sincerely hope these guys identify how they are advancing things in the near future!!
MLX Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
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