The pre Feasability study based on JORC standards and announced in July envisaged producing 660,000 ounces over 9.3 years ......NPV5 of $249 million
Our Murchison gold project has 644,000 JORC ounces
Meeka's market cap is identical to that of MMY...$37 m.
This shows the potential of our Murchison project which is more advanced than that of Meeka, yet no value in our current market cap
As I have argued many times, unlock its value by spinning out Murchison to shareholders including a ASX listing
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amounts are in Australian dollars unless stated otherwise.
Slide 2
A High-Grade Gold Project
Advancing to 'Production Ready'.
Located in the tier 1 mining jurisdiction of
Western Australia.
Recovered gold production of 663,000oz1 over 9.3 years, 80,000ozpa over the first eight years, peak production of 103,000oz in year six.
Base case undiscounted pre-tax free cash flow of $363M, NPV5%$249M and IRR 40%.
Initial Probable Ore Reserve of 4.1Mt @ 3.1g/t
Au for 410,000oz, multiple mining areas to de- risk production.
Good access to existing infrastructure in the
Murchison.
Substantial opportunity to build on the base case production plan prior to development.
1 92% of production in the first three years is from JORC Measured and Indicated Mineral Resources (Inferred 8%). 71% of total production is from JORC Measured and Indicated Mineral Resources (Inferred 29%). There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources or that the production target itself will be realised.