Huang Chung
03-04-2011, 07:51 PM
I picked up a parcel in MGO last week at 31.5c.
Their Yandera project is a very large tonnage, low grade copper molly deposit in New Guinea.
DFS is probably due in the next few weeks, which should add a few more pieces to the puzzle.
EV around $230m, with $70m in the bank.
Soros Fund holds just under 20% of the company.
Couple of issues for me:
Grade
Tailings disposal
Eureka Report are looking at MGO favourably, as per the link below:
http://www.eurekareport.com.au/iis/iis.nsf/lpages/MEZT-8AP7JA?opendocument
Latest company presentation:
http://www.marengomining.com/reports/Marengo_MinesandMoney2011_PRINT.pdf
Their Yandera project is a very large tonnage, low grade copper molly deposit in New Guinea.
DFS is probably due in the next few weeks, which should add a few more pieces to the puzzle.
EV around $230m, with $70m in the bank.
Soros Fund holds just under 20% of the company.
Couple of issues for me:
Grade
Tailings disposal
Eureka Report are looking at MGO favourably, as per the link below:
http://www.eurekareport.com.au/iis/iis.nsf/lpages/MEZT-8AP7JA?opendocument
Latest company presentation:
http://www.marengomining.com/reports/Marengo_MinesandMoney2011_PRINT.pdf