MYG 0.00% 42.5¢ mayfield group holdings limited

some research on myg

  1. 12,414 Posts.
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    This is especially for Matt777 ... I will leave the "valuations" or projections on MYG to others, I do however have personal fundamentals and technical targets that I might set.

    Nevertheless, here is some of the more fundamental research & various viewpoints expressed on the MYG threads in the last 10 weeks ... they are from different, nameless contributors.These have been posted since the shares were trading at around 6 cents, and the options 2 cents ... so please forgive the exuberance of posters that have made significant profits!:

    "Recent broker report said MYG should be conservatively valued at 23 cents. Gold price was lower then. New drilling results are pending (drilling is completed) which could increase the size of the resource dramatically and thus the valuation. Infrastucture is in place to rapidly go into production. Actual production should increase the valuation dramatically"
    "None of these ATW grades have previously been released on the ASX, & have not been included in the jorc ... so they will be added into the coming December JORC � We shouldn�t forget too that they have 113,000oz jorc at White Well/Bounty, with 500,000oz overall gold target at Bounty. White Well is a "free-digging" deposit, so no blasting required. Dig up and truck to the Gullewa plant as extra feed. Along with the significant iron ore project & many other projects that they have, MYG has massive upside."
    "The news pipeline is this:
    1] NOW ONWARDS - Drilling results for next 31 holes as they are released from the labs
    2] MID DECEMBER - Release of upgraded JORC much of this is for grade control & confidence level, but should also grow in size as new results are not all infill
    3] END DECEMBER - Full Scoping Study released
    4] EARLY 2011 - Commencement of BFS
    5] EARLY 2011 - Commence next drill program
    6] EARLY 2011 - Obtain hedging finance to support mining commencement"
    "The problem with Gullewa before was the mix of copper/silver. The mistake was building a CIL plant for free-milling ore only, and then having Deflector become the main deposit, yet with ore not suited to CIL treatment. The existing plant at Gullewa can and will be modified to treat copper gold ores by the addition of a gravity concentration and flotation circuit.
    The cost to change the plant in 2005 when the POG & POC was low, was unwarranted, however gold is ballistic now, and copper the same ... upgrading of the plant now is economically very sound, AND the current CIL tanks can will be used to also treat MYG's White Well ore and/or any other free-milling ore found in other deposits at Gullewa.
    Of significant value to the project IMO, is the turn-key plant, licensed tailings disposal facility, mining and environmental permits, native title approval, offices, camp, other infrastructure & roads etc ... all just about as valuable as the gold!!"

    "Now we know that the Deflector deposit is the main resource. Having a read of the proactive investors writeup 20/10/10 for like the 5th time lol. I keep getting excited about White Well. There is a 91,000oz resource there and we know it's a low cost to produce. Everything has changed with the purchase of the plant and mill. This gold can be processed at the Gullewa plant. It's possible that 70,000oz could be produced in 1 year. Using a gold price of A$1300 this would give a gross cash flow of $91m. Even if we said costs were as high as $A600 per oz, 700 x 70,000 = $49m before tax
    Just have a think about that. MYG have the processing plant, the upgrade is needed for the Deflector deposit because it contains copper but White Well is a straight feed. Have a look at a company called NST. They are actually in production and only have a small deposit about the size of WW. They are valued at around 4 times MYG.
    The upside in share price here is enormous and this is what really has me excited, most people are just concentrating on Deflector which is going to be great once the plant is upgraded.
    Deflector hasn't had the recognition it deserves. The deposit is shallow and will contain copper and silver credits. Operating costs for gold will be low as a consequence."
    "Of the 217mill shares on issue, nearly 100mill are held by the top-20. That leaves only 117mill as a possible free-float. Then with 90 million traded in one day yesterday, you get the sense that a stock squeeze is a distinct possibility. Looking back at the run AVB had with 600million shares on issue ... for MYG to get to 20 could easily happen."
    "The market has seen a fraction of the potential mineralization on this lease today....What the market and most observers failed to realize was where this deposit(Deflector) is situated in relation to Golden Grove which remains as one of Western Australia's premier, legendary VMS's about 40-50 kms west of Golden Grove�. this one is worth holding for a while I reckon. The copper grades announced today would turn many a junior explorer green with envy......,let alone the gold grades � I suggest you google "Golden Grove" � visualize The Big Picture"
    "A review of surface stockpiles derived from the Deflector pits was also carried out during the year. Site inspections, re-sampling and mine records were used to verify and upgrade the stockpile estimate to 5,500 Au Eq oz. Accordingly, the total Resource Inventory for Deflector measures 850,500 Au Eq oz, of which 427,500 Au Eq oz are classified as Measured and Indicated."

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