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ASX reporting it will list on Tuesday, 14th July 2020, 10:30 AM AEST .

Only $5 million or 25 million shares raised at the IPO, and existing shareholders hold 193 million (with some 48% of these under escrow)


MKR owns 100% of two, fully permitted, Gold and Silver assets located in the Cobar Basin of NSW. These assets include the following:

• The Mt Boppy Gold mine and substantial neighbouring tenements which hosts an existing open pit resource of 44,000oz Au grading 3.13g/t (of which 31,000oz Au is in reserve status);

• The Wonawinta Silver project, with mine, processing plant and substantial neighbouring tenements which hosts a 52m oz JORC compliant silver resource grading 42g/t Ag; and

• 850,000t.p.a. plant plus associated infrastructure which includes 2 fully operational mine camps and a recently expanded tailings storage facility. Processing schedules includes processing of existing stockpiles at Mt Boppy and Wonawinta. Also spare capacity so likely toll treating for nearby third parties.

Exploration Program

Over past 3 years developments have led to a better understanding of the Cobar Basin, including

... Fitzherbert has seen refining the Cobar-Type Mineral System;

... New Insights Spawned from Direct Dating of Mineralisation.

• uncertain historical data consisting of insufficient detail demands fresh review over entire package

• 5 high grade, high conviction targets at Mt Boppy, 4 high grade high conviction targets at Wonawinta


Mt Boppy mine produced >500,000 oz Au @ 15g/t; Drilling was largely limited to ~120 metres depth

Historical exploration on the Wonawinta properties was halted at depths of circa 60m.

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capital raise. mining Co on the cusp. Naw


But there is an interesting dynamic. Current cash generators are not long term, but they are there. Bit of toll treating. Small but interesting resources/ reserves. Drilling ahead (or underneath) for extension within a known province.


Good pig in the poke .

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Making a meal of MKR. Finding it hard to digest all on the plate?


There may be the illusion of pent up demand when

..... IPO closes after 2 days into the fortnight

..... Top 20 shareholders own 78% of total shares .... and IPO only adds 12% to total (or about 25% of unescrowed) .


it opens some 40% above at 28c, trims to close 25% above at 25c, then by third day closing at 23.5c.


Think there is a bit of indigestion at present.

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