Monument Mining Ltd. V.MMY

WestGold loses out on $177 m offer for Musgrave

[nozzpack]

Musgrave in April released a prefeasibility study (PFS) for its Cue gold project, in Western Australia, estimating goldproduction of 337 000 oz over the five-year mine life, with the first three years averaging 80 000 oz/y.

The study estimated that the project would require a capital investment of A$121-million to develop the 500 000 t/y operation, with the pay-back period estimated at nine months.

An offer of $201 m beat out WGX

 

[SilverNS]

Hey Nozz - as you are aware Westgold tried to purchase MMY in the past.  With our new resource estimate and new discoveries in Murchison as well as our 20% piece of ODY, what is your estimate we could sell our Austrian assets? And if they wanted to purchase all of MMY as a whole, what also would be your estimate?

[nozzpack]

Yes, thanks for the reminder. I recall about $39 million in WGX shares  and cash. Cathy wanted a streaming deal which WGX would not accept . Turnakura has the same Gold resources as Musgrave which WGX offered $177 but a higher bid of $201 took the offer.   There are now close to 700,000 ounces in 43-101 with another 150,000 ounces in JORC at Gaby and lots of exploration upside in

[pandsca]

RE: Its just a matter of time now before we pop above $0.20...any signifucant NR of which several are in progress. @Nozz Is this just your opinion or do you have some insider information?

[romara]

Just my opinion, and I don't want to get into any wars here..... it's just his opinion, if he was feeding insider information..... he would be locked up. The only people who can make news, or provide official information is the company, through a public News Release. And if snyone  is giving an opinion....they should give the source, i.e. news release, or financial statement. As I

[pandsca]

@romara I totally agree. People need to clearly state when they tell us NR's are coming soon or are being created, that they either know this for fact and can provide a link to the publicly available evidence, they need to STOP injecting their opinions, or they need to be locked up for releasing this type of information. IMHO, @nozz does this type of stuff too often and needs to stop the

[SilverNS]

I disagree - Nozz has not once stated that he has inside info.  Everything he posts are his opinion and you/we all have a choice to ignore it, block him if you do not not want to view his posts.  I foreone do want to read them as I believe he puts a lot of time into his research and offers some valuable info on MMY that we do not get from this Management Team.

[tsoprano24]

Pandsca, can I assume you are one the 12 remaining CNN viewers? Since WaPo, NYT and CNN have humiliated themselves over the past decade, where are the trusted newsmen you believe in? T

[Freddy1989Germa]

Wow what's wrong with you everyone is allowed to express their opinion....and speculation is part of it If you don't like it don't read it The fact is we are in a very good position right now with a plant that is running.... ? did you also find something to complain about in mine for which I have to go to jail Mr. lawyer haha forum lawyer maybe haha

[romara]

Freddy, nothing wrong in expressing an opinion .... as long as you use a source of where you got the information for that opinion. Making statements without a source .... is like making news. Only the company can report "news". Nothing wrong in interpiting  the news with a different slant ..... as long as you give source of your opinion. And by saying that so and so is doing a

[Freddy1989Germa]

Hello Romara I don't know what they want to protect new investors from, they haven't quite understood yet that we need new investors for the share price to rise in conjunction with good news? Do you even have shares in MMY or do you just want to shoot against us and prevent the share price from going its way?

[romara]

Freddy, I just wasn't just  talking about MMY. I was generalizing about the whole penny mining stock market It is hard enough to make money on what we own.... we do not need false, or unsubstaniated "news" or opinions.getting in our way BTW....I hold over 500k of MMY, and I have seen a lot of shaky deals that "Bob" did in the Congo, which I figured fattened his

[Freddy1989Germa]

Hello Richard The Congo project would have been a very clever and smart move where you can add ounces of resources very quickly. The deal didn't happen, unfortunately the company that wanted to do the deal is now paying dividends to investors who seem to be doing something right. Australia also has the potential to rapidly expand its ounce resources.

[nozzpack]

No, it's my considered open given the recent Resource estimate by ODY, that it is considering resumption of Mining at Tuckanara which means that the SPV will soon be activated, as the trigger point was ODY confirming  at least 100,000 ounces at Tuckie. That trigger point requires that MNY must now begin to pay its 20% share of the mine development costs up to and including resumption of