Post by
Magnum2 on Apr 20, 2021 11:33am
Next cash call should take MMA to 90% ish
of the entire land package...Rio Tinto is capped at 75%, so this would give MMA 15% of a potentially massive property and eventually mine.
With a little over 103 Million shares out(treasury builds ever phase the project advances), MMA should be dollars, not nickels after the next phase of driling results this Summer. Next round we should start to see the grades MMA has already put forth, but build out with next Rio drill holes.
Copper still well above $4.00 USD$/lb., not sure why as Copper LME inventories have doubled in the past 45 days....with that said check Lumber futures up 5 fold since last Spring (was 280 now 1300+) crazy...expecting somewhere along the way Copper will do the same, perhaps not 5 fold, but break out greatly.
MMA/Midnight Sun has the exposure and leverage to Copper if the next round of drilling starts bringing up solid results...$50Million+ probably a sneeze cash wise for Rio, but more important is they need new assets to maintain the entire Co.
Disclosure: holding MMA shares, bought more a couple weeks back
DYODD