RE:RE:My guess....
True enough.
The mgmt @ MMG have made excuses for the languishing SP for years whereas it is lack of drilling development NR's that causes the lapse in momentum each and every time the SP does a move.
There has not been an NR pertaining to drill development results since early April-eight months.
The share price is now sitting near five year lows.Keno just concluded it's first DP and La Plata would not see it's first DP until the summer of 2021.
With 170 million total shares outstanding now let's imagine MMG restructure/ split up the projects in half and throw in the alluvials as a free bonus:
Keno Silver Project
.07 CAD
85 million shares total O/S
18.16 million oz Ag Eq
2024 drill results pending
La Plata porphyry copper district
Cu-Ag-Au-PGE's
.07 CAD
1,317 million pounds Cu Eq or 1.317 BILLION lbs Cu Eq
147.3 million tonnes at an average grade of 0.41% copper equivalent
1.21-billion-pounds copper and 17.6-million-ounces silver
Updated resource pending that incorporates Au and the PGE's into the total resource count
85 million shares total O/S
I say split the projects up. Half the share price so the company can raise capital for development.
Now shareholders have shares in two companies with 42.5 million shares outstanding at each project/new company at .14 CAD per share.
Give the alluvial production royalty proceeds to Keno to shore up development and the value of that new company.
Keno should have about 20 million oz of Ag Eq with the new resource
.14 CAD
42.5 million shares total O/S
La Plata will grow with the new resource about to be unveiled.
How much ? No idea , but it will grow beyond the 1.317 BILLION pounds of Cu Eq 43-101 it has now.
.14 CAD
42.5 million shares total O/S
Just guessing but this scenario brings in new investor capital to both projects while existing shareholders receive shares in two companies.