MZG Menzies Gold-more good news

  1. 404 Posts.
    Menzies Gold announced yesterday(copied below) a new discovery, albeight only about 108,000 oz, but the grades are high, the resource shallow(mainly between 20-40m) and they will start mining it next month! They are in the enviable position of having their 300,000 tpa plant just a few km away. It just gets better. Remember, they have a much larger proven resource at their Murchison Project; so these new discoveries are just icing on the cake and boosting short term cashflow. I'm still adding to my holdings before a large buyer takes a significant stake. Don't know who it will be, but its gotta come, and soon. This stock is way undervalued. Do your own anaysis/research.
    Drilling Results - Rocksteady Prospect: Murchison Gold Project


    HOMEX - Perth

    Follow-up and infill Reverse Circulation (RC) drilling at the
    Rocksteady prospect has returned encouraging gold intersections.
    Results include:

    18 metres @ 5.35 g/t gold
    11 metres @ 10.53 g/t gold
    9 metres @ 5.52 g/t gold
    11 metres @ 6.18 g/t gold
    13 metres @ 5.70 g/t gold

    Rocksteady is situated five kilometres southwest of the treatment
    plant, 100% owned by Menzies Gold Ltd through the King Solomon Mines
    Operation. The treatment plant is now in full operation, currently
    processing ore from the Brandy Hill mine. The plant, which has a
    design capacity of 300,000tpa, is operating well, and produced 1,625
    ounces of gold for the first three weeks of full production in April.

    Mineralisation at Rocksteady remains open at depth and along strike,
    and is part of a small resource (108,000 tonnes @ 3.5 g/t Au) that
    will be mined by Menzies commencing June 2002. The latest drill
    intersections are extremely encouraging, and follow-up drilling is
    planned. The mineralisation continues below the 60 metre vertical
    depth, which was the previous limit of drilling in the area. The
    gold occurs within an oxidised, iron-rich rock associated with felsic

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