Today (10 January 2019) ASX listed mining company, Myanmar Metals Limited (ASX: MYL) released its Investor Presentation following which the share price of the company uplifted by 1.754 percent.
In the investor presentation, the company has informed about its 51 percent owned Bawdwin project which is the most significant pre-production lead-silver project in the world. The project is already boasting an 82 Million tonne high-grade JORC Resource and it has outstanding potential for exploration and attractive project economics from a high grade, low-cost operation.
In the presentation, the company also provided information about multiple resources and targets over 10km strike length at the Bawdwin Mining Field. The Shan Lode at Bawdwin Mining Field is having a current resource of 31Mt at 4.7% Lead, 2.2% Zinc, 0.2% Copper and 110 g/t silver. China Lodes is having a current resource of 34Mt at 5.6% lead, 3.0% Zinc, 0.2% Copper and 138 g/t silver. The company has declared 82Mt JORC resource with 24.8Mt in the Indicated Category. 82Mt JORC resource includes high-grade core of 44.5Mt @ 7.8% Lead, 180g/t silver, 3.7% Zinc, 0.3% Copper. In the China lode, mineralization has been defined where waste was assumed in the China Pit Scoping Study and in some areas high-grade drill intersections have occurred where low-grade had been modelled.
Till now the company has focused drilling on areas which were left behind by historical miners. Historical production was at circa 50% zinc equivalent, leaving a large but lower grade resource for modern extraction.
In the presentation, the company also informed about the accelerated re-development program which is offering a fast track pathway to large scale, long life production profile through existing Mining Concession & Production Sharing Agreement.
During FY 2018, the company completed its China pit Scoping study, 2018 exploration program, and 2018 resource exploration program on Schedule. The company’s plant and logistics engineering studies, Mining engineering studies, environmental and social impact assessments, Feasibility Study is currently ongoing. In the first quarter of 2019, the company will commence Mineral reserve assessment, 2019 exploration program and 2019 resource drilling program.
The company is having a highly experienced Board which includes the company’s CEO Mr. John Lamb who has 30 years of experience and the Board also includes Executive Director and CFO Mr. Rowan Caren who has 20 years of experience. In the investor presentation, the company also informed about the number of shares these executives are holding. Currently, Mr. John Lamb has 12.5 million shares and 6 million rights, and Mr. Rowan Caren has 8.3 million shares and 4 million rights. The company also informed about its two Non-Executive Director – Mr. Jeffrey Moore and Mr. Paul Arndt. Mr. Jeffrey Moore has 8.4 million shares of the company and 4 million rights.
It is expected that 2019 will be an active year for the company with a number of highly significant project milestones and an exciting exploration program.
In the last six months, the share price of Myanmar Metals Ltd has decreased by 13.64 percent as on 9 January 2019. MYL’s shares traded at $0.058 with a market capitalization of circa $71.89 million as on 10 January 2019 (AEST 4:00 PM).
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