Thanks for proving my points... ...and keeping the stock price low for me.
There is always an avalanche of negativity after every great news release.
FYI
'In addition to the plant for Penhalonga, Phase 2 activities will include testing, engineering design, and delivery/commissioning of three portable VAT leach adsorption/desorption/recovery plants that are capable of processing 100tpd of ore. The portable plants will be placed in strategic regions of the country to service readily available ore from small and medium sized artisanal miners. It is estimated that each plant will cost between USD$7.8M and USD$11.5M depending on actual configurations, with currently 3 plants planned.
Completion of the initial implementations will launch Phase 3 to address the testing and optimization of extraction for the transitional and refractory ore present at the mine. This work has not yet been costed and scheduled.
Sixth Wave will name Magnus as the exclusive distributor for IXOS®-Au in Africa and the countries that comprise the Gulf Cooperation Council (GCC) as per the initial MOU. Term aspects and finalization will not be addressed until completion of Phase 1.
“We are very excited about this collaboration and bringing our advanced technology to the mining industry on the African continent and beyond with Magnus Mineral Resources (PVT) Limited. I have been involved in several mining operations including design and commissioning on the continent and within the GCC. My prior experience allows the Sixth Wave team to have a foundational understanding of the challenges and requirements so that we can help ensure the success of the Magnus projects” noted Nicol Newton, Vice President, Sixth Wave Mining Division.'
This is the cherry. It isn't the deal with one company at one mine. It is this little nugget and I wish them all the success.
DD101BB101