And what is the environmental bond / legacy cost of "inheriting" such an operation? Publicly not fully disclosed and is unknown. Just like the supposedly gold resource MEU "holders" and "buyers" believe MEU have at AT.
The competition (TYX) are closer, and have come out with a JORC. They are further down the process than MEU.
You need an ML to go mining, and MEU are off drilling greenfield exploration targets. It doesn't sound like they are planning on defining a reportable resource, or spending the money in the right place that will enable them to turn the EL to a ML. Lets say tomorrow MEU come out with a JORC for AT, best case, they're still two years away from final approvals for a ML.
Theses guys do not deserve the adulations lauded on them by a passionate few rampers.
What have they come up with?
The SP reflects their success. With dilution, is MEU not at an all time low? Against a Bullish gold market, MEU have headed south.
Reality check, please!
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