Mason Res Corp MSSNF

RE: RE: Guest Sues MNR!!!

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They can't have much cash available; going by their latest filings, probably less than one million. That isn't going to pay for much drilling, so any major exploration program will likely have to be preceded by another financing. If I was part of the interim management team, I'd focus on getting the PEA done and finding a new CEO, who could then do a financing and restart exploration. I'd also suggest getting a new name for the company approved at the upcoming AGM.

That said, I like the risk/reward at the current price, even if it's obviously highly speculative. I take the resource calculations to be reasonably reliable, since SRK signed off on them, and even assuming 200 million shares fully diluted (to make room for a financing) the current valuation looks attractive. A competent management team is needed as soon as possible, as well as a coherent plan for moving the project forward.

I hope that the PEA is as close to completion, as Peter Guest has previously said, as it will provide at least some indication as to whether the deposit can actually be made to work as a mine. The fact that Guest started referring to it as a PA in his last PRs makes me think there might be some problem or other with it, but who knows.