GREY:MAAFF - Post by User
Post by
Redpillon Aug 16, 2010 11:48am
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Post# 17353455
RBC capital market's opinion regarding Makola repo
RBC capital market's opinion regarding Makola repoHi all,
Below the RBC capital market's opinion regarding the last PR from Aug 13th.
"
Technical Report Outlines Inferred Potash Reserves Estimate for Makola License
- Technical Scoping Report Results Released. Ercosplan estimates a total inferred resource of 1.7 billion tonnes of potash for MagIndustries Makola exploration license.
- Modestly Positive Implications. We view MagIndustries' announcement as modestly positive for the company. The scale of the inferred resources associated with the Makola license could make it more interesting for potential partners. However, the reserves are currently classified as inferred and more work and time would be required before they can be established as probable or proven. More importantly, the key outstanding issues for investors relate to the financing of the current Mengo project. In this regard, MagIndustries is still planning to finalize its Project Development Agreement with COMPLANT in August 2010.
"
Again it is in line with the analysis from several people from this BB (I was not one of them... sincerely I was one of the over excited ones...)
There was no price target in this report.
(RBC is the discount broker which I use and that's why I have access and sharing this)