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Meridian Mining UK Societas T.MNO

Alternate Symbol(s):  MRRDF

Meridian Mining UK Societas is focused on development and exploration of the advanced stage Cabacal VMS gold-copper project, regional scale exploration of the Cabacal VMS belt and exploration in the Jauru & Araputanga Greenstone belts (the above all located in the state of Mato Grosso, Brazil). The Cabacal Project has licenses covering approximately 50 kilometers (km) of the 55 km VMS belt. The Espigao Project is located on the southwest margin of the Amazon Craton, in the western margin of the Proterozoic Rondonia-Juruena Province. The Company’s Espigao Project covers an area of 72,800 hectares. The Company holds mineral rights totaling 55,559 Ha in the Mirante da Serra Project. The licenses cover an area with an intracratonic basin in the Amazon Cratin, emplaced over crystalline basement rocks of the Jamari metamorphic complex and Mesoproterozoic Rapakivi granites. Its Ariquemes Tin Project comprises a land package in Brazil.


TSX:MNO - Post by User

Post by TFSAfundson Sep 28, 2021 1:30pm
153 Views
Post# 33931213

A little puzzling...

A little puzzling...with the rainy season about to begin and Clark having said that 3 drill rigs is it for now. If there ends up being $15 million (Cdn I assume?) in the kitty, how long can you run those rigs for in terms of years? Can you still move them around during late October to end of March next year? Why didn't Clark hint at this during his presentation? We all realize additional funds would be required at some point, but it's not as though our backs were against the wall now. You can try and put whatever positive spin on this that you want, but to me, I think it just shows that management sees a bleak period for the next half year! If they actually suspected good results still to come, would they not have waited? Timing says it all... I see a downward spiral for the next few months!!!

And what about that Ariquemes tin JV? The 90 day window ends in approximately 10 days. Giving up controlling interest (51%) for $1million USD expenditure over 24 months doesn't do it for me. Why not just sell the whole damn project... unless of course pfaff still thinks those tailings are a "no brainer" ... lol.
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