Highlights of MFL Presentation- we feel that the company trades at a discount to her peers. MFL trades at $100/oz while her peers trade at $300/oz.
- currently MFL is working on at decision for construction at La Bolsa, a decision for mill construction at Dolores to improve the recoveries of leaching the high grade ore, an underground sresources definition (they are currently adding 2 drills for underground drilling) and outside acquisitions.
- at the end of the month there will be an analyst tour to Dolores with 14 analysts in the group. 8 of the 14 have never been to the property.
Dolores
-the prefeasability study for the mill is underway and expected to be complete by end of the year. It will improve recoveries. Working to develop underground resources.
La Bolsa
- 2 drills currently
- updated resouce Sep 14th
Operations
- February MFL was cash flow positive
- May 31st MFL entered commercial production
- they have $30 million in the bank
- strip ratio is lower than planned
- recoveries are as planned
- MFL is developing other properties and looking at other projects.