Are the projects viable to return a profit on investment?
Formo has a 43-101 of 12 million oz of Ag.
Sits within 5 kms of Heclas mill complex.
Petsel has said they envision it as a 50 million oz deposit and has stated it has potential to be "another Bermingham".
The east end of Keno has 6 million oz of 43-101 silver and they have only drilled the surface of a few targets.
Keno West and East are viable as targets for sale/takeover/JV/tolling percentage,etc..
Petsel on La Plata:
"The goal at La Plata is .5% -.75 % Cu Eq for a mineable operation ,ideally 50-100 million tonnes of 3/4%.
Newmont would want to move forward with that.
We already have 147 m/t of .4% -raise the cutoff grade to .5%- and we see the potential to get there."
When the new resource count is released we will find out if the gold and PGE's raise the overall grade over .5%.
Since there are 147 million tonnes at Allard,alone, the viability of mining the project meets the requirement to mine it at .5% Cu Eq.
There are three other drill ready targets to be tested now. Those are 1% + at surface samples and the overall ore grades rise with another ore body above .5% Cu Eq.
Those targets are at the drill ready stage. All that remains is funding without excessive dilution to extend the viability of La Plata into the realm of the world-class mining district that it touted to be:
“The 2023 exploration program was a major step forward in our understanding of the higher-grade controls to mineralization in the Allard resource area and in the advancement of several exciting surface target zones that demonstrate percent level copper with precious metals that have never been drill tested. Our emerging vision for the La Plata project is that we have the potential for a district-scale system with multiple porphyry centers in addition to the Allard resource area." Scott Petsel
April 16, 2024 NR
Significant drill-ready targets at Morningstar, Renegade, and Copper Hill
'Significant high-grade results were received in surface rock samples taken from more than 20 different target areas during the field season. Several of these surface target zones have returned percent level copper grades with significant silver, gold, and PGE values in rock sampling that have never been drill tested.
This work has identified significant drill-ready targets at Morningstar, Renegade, and Copper Hill, which may represent new porphyry center discoveries on the La Plata property. Follow up work is planned on at these targets in 2024 along with work to advance additional surface targets to a drill-ready stage.'
April 16, 2024 NR
The share price and noise do not represent the viability of the project.
IMO.it is reflecting the fact that MMG have not generated an NR over the last seven months as we await the revised resource at La Plata and the 2024 results from Keno.
MMG need funding and Petsel has stated another large entity would be helpful to accelerate the project.
As I said before,it's a waiting game and not a matter of the projects viabaility.