InvestorsHub Logo
Followers 1081
Posts 106811
Boards Moderated 55
Alias Born 11/22/2003

Re: bigone post# 589

Sunday, 04/30/2023 8:09:27 PM

Sunday, April 30, 2023 8:09:27 PM

Post# of 793
Resumption of Mining at Murchison -

Hello my friends , hope you are all well and suffering well through the return of El Nio .

One of the benefits of having astute shareholders as contributors to your investment is that
they see things that many of us might miss.

Fortunately , I am blessed that way.

In this regard, one of them has pointed out to me that there are new pictures on the
Murchison website
that indicate that the Burnakura mill is undergoing renewed activity.

We know that Management have made Murchison a priority in diversifying our production
There are ore stockpiles there and an historic tailings dump with very high grades suitable
for the mill start up.
My astute colleague has also noticed that our mining and development officer ..Matt A ntill..who has extensive experience in all things mining in Australia ,is onsite .
Now I have already pointed out that we have about $20 million in deferred tax assets
presumably acquired with the Murchison acquisition.
Those can only be used in the case that future profits can be presumed .

So, we have here a situation in which we have a fully operational mill requiring only
recommisiing startup , cheap ore from the old tailings dump and good grade ore available
from earlier stockpiling .

We have ODY near defining new open pit oxide resources which have access to the
Burnakura mill and up to $20 m cad in deferred tax assets under demonstrated profitability
which can be utilized to upgrade the mill to 750,000 tons per year .

This scenario of course is a fill in the blanks scenario but there are blanks already filled in
that make may convert speculation into reality..

With thanks to the Conqueror..
by nozzpack

My opinions are my own and and DD I post should be confirmed as unbiased