Think Environmental: Update on proposed invt into Mornington Offshore for Mali gold mines, Mornington is in midst of determining measured and indicated reserves, and co is also in process of assembling own team. As such co is "cautiously optimistic" of setting production facility within nxt 12 mths...
Cost will range from US$250-400 per ounce and gold price is approx US$1400 currently. Co's subsi is working on environmentally friendly plan for operations. Recall stock is a concept play; has shot up 31.3% since 3Q results which were loss making. Caution advised as investment is still preliminary without firm figures, furthermore, co is not known for having expertise in mining or any form of JVs cited.
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