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 sources.
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 Antill..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..