RE:RE:RE:RE:RE:RE:$.75 Price Target on MXI by Franklin IndependentThe $3.5 million PP is just about as strong a statement as anything to IMG that MXI is not desperate to sell. Pay a fair price for a stellar asset now, or pay a bigger fair price for a bigger asset next year. It's IMG's choice. They are drilling extremely cheap ounces right now so it's a win-win for MXI. Finding costs right now are well under $10 and will fetch at least $50 in a sale so waiting is very profitable right now.
You're right that IMG has always been slow wih Siribaya results. The last bunch took them two months after drilling completeion. I have never heard a good explanation for it. Three years ago and back it was always blamed on the assay labs being too backed up with work. That shouldn't be an excuse today. Perhaps the lab in Bamako is just on Africa time.
The longer it takes, the more DD results will be available. At the rate they were drilling back in March/April, it is unlikely that the DD program will even be completed by the raiiny season in July. However, the more results on DD, the better.