GREY:MLGAF - Post by User
Comment by
masspoweron Oct 24, 2012 10:40pm
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Post# 20520937
RE: RE: RE: RE: New to MLG/sp over-reaction to new
RE: RE: RE: RE: New to MLG/sp over-reaction to new My take....talk about overreaction! Financing?? I think GTP will finance most of the expansions needed...GTP has a very close relationship with Malaga that gets all of there tungsten and they have financed them before in the past. I posted a article dated back October 4 that mentions financing...Canada-based tungsten producer Malaga is close to reaching an agreement for a DEBT financing worth $3 million in order to increase production at its Peru operations. So to me it reads like everything is close and secured and is a DEBT financing NOT a PP in shares! They have higher grades in the lower of the Huayllapon zone and wanting to install a incline ramp to get it out is there mission. The power accident makes me think who is paying for that? Was it maybe there partner Hidropesac that caused the accident and what will it cost for repairs? They have future plans for a 20 to 38 KW hydroelectric expansion with this partner. This was a unforeseen added blow for Malaga and us shareholders but temporally one 3 to 4 weeks from what I read! That said...Malaga is a tungsten producer with a huge deposit with at least 30/40 year mine life and makes most of it's own power for the mine and we trade for 5 cent! Also to add it's the lowest cost tungsten producer around and 50 to 55 percent institutions own the shares. Yes...overreaction and way oversold but temporary IMHO!
Cheers!
masspower