RE:RE:@Teaglessoar1014 The Magistral Project.
Source: https://globenewswire.com/news-release/2017/07/20/1054702/0/en/MX-Gold-Corp-Advances-the-Magistral-Project-Towards-Production.html
"With the rights of 1.2 million tons of unmineralized mill tailings grading average of 2.06 gold per tonne. (79k ounces of gold).
If gold is worth $1250 per ounce and MXL has claims potentially 79,000 ounces of gold then MXL receives cash flows of $98.75 million dollars in USD. Over 118 million in CAD.
Ok, I get those numbers are estimates but even if the grade is poop at only 1.03 gold per tonne they still generate over $60 million in cash flow from this project.
This more than easily pays their debts off and allow them constant revenue generation for a while to come. They are going to turn things around, bank on it!
" MX Gold is also pleased to announce an update on various activities underway at the Magistral Project:
-- All major tankage at the project has been installed.
-- The installation of equipment at the project is ongoing, with installation of the grinding mill scheduled for completion by December 1, 2017 and installation of the Merrill-Crowe circuit underway.
-- All other equipment, including piping, pumps and electrical, has been sourced and is in transit.
-- The contractor is focused on the resources needed to complete construction, with operating manpower requirements being filled and reagents being purchased.
Dan Omeniuk stated, "The build out at the Magistral Project is on track, with various milestones already complete and the remainder of the installation underway."
Source: https://www.theglobeandmail.com/investing/markets/stocks/MXL-X/pressreleases/201688/
They have $4.5 million invested in this installation so they are fully committed to this, and why wouldn't they be? They have millions of dolllars of revenues to be generated in years to come from this project.