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• Moon River announced that it received positive results from an ore sorting study performed on material from the Endako Mine Complex.
• MOO plans to also perform these tests on the Davidson Project as well.
• We provide an overview of the Endako Project below.
• MOO is setup for an active 2025 with several major catalysts planned, including an updated mineral resource estimate and an updated PEA.
This morning, Moon River Moly Ltd. (MOO:TSXV) announced that the initial results from a recent study showed that the mineralized material at the Endako Mine Complex may be amenable to ore particle sorting. If future tests on larger samples remain similar to today’s 50kg sample results, the ore sorting could significantly improve the overall feed grade to the processing plant and ultimately, the economics of the project. We have provided a detailed refresher of the Endako Project on page 2. Also in the release, Moon River mentioned its intension to test if ore from the Davidson deposit are amenable to ore particle sorting. If successful, this could have an even greater benefit to our overall valuation for Moon River as the Davidson Project makes up the majority of our company valuation. We are maintaining our BUY rating and $2.20/share target on Moon River Moly.
The study, carried out by ore sorting supplier Ganzhou HPY Technology Co. Ltd (HPY), studied a 50kg sample from the Endako Mine and the results from XRT X-Ray sorting indicate ~88.6% metal retention and ~40% rejection rate (waste). Tests were also conducted on HPY’s new Photon Series Sensor imaging technology with the results showing ~80.7% metal retention and a rejection rate of ~79.4%. Based on the results above, Moon River plans to further advance these studies by way of a 2-5t bulk sample for confirmatory analysis. These tests are expected to take place in the summer with the results coming shortly after.
MOO: Positive Ore Sorting Results on Endako Mine Material
What you need to know:• Moon River announced that it received positive results from an ore sorting study performed on material from the Endako Mine Complex.
• MOO plans to also perform these tests on the Davidson Project as well.
• We provide an overview of the Endako Project below.
• MOO is setup for an active 2025 with several major catalysts planned, including an updated mineral resource estimate and an updated PEA.
This morning, Moon River Moly Ltd. (MOO:TSXV) announced that the initial results from a recent study showed that the mineralized material at the Endako Mine Complex may be amenable to ore particle sorting. If future tests on larger samples remain similar to today’s 50kg sample results, the ore sorting could significantly improve the overall feed grade to the processing plant and ultimately, the economics of the project. We have provided a detailed refresher of the Endako Project on page 2. Also in the release, Moon River mentioned its intension to test if ore from the Davidson deposit are amenable to ore particle sorting. If successful, this could have an even greater benefit to our overall valuation for Moon River as the Davidson Project makes up the majority of our company valuation. We are maintaining our BUY rating and $2.20/share target on Moon River Moly.
The study, carried out by ore sorting supplier Ganzhou HPY Technology Co. Ltd (HPY), studied a 50kg sample from the Endako Mine and the results from XRT X-Ray sorting indicate ~88.6% metal retention and ~40% rejection rate (waste). Tests were also conducted on HPY’s new Photon Series Sensor imaging technology with the results showing ~80.7% metal retention and a rejection rate of ~79.4%. Based on the results above, Moon River plans to further advance these studies by way of a 2-5t bulk sample for confirmatory analysis. These tests are expected to take place in the summer with the results coming shortly after.
Underlying
MOON RIVER MOLY LTD
Provider
Atrium Research Corporation
Atrium Research provides institutional quality issuer paid research on North American public equities using deep fundamental analysis. Our research reports are disseminated through Bloomberg, FactSet, Capital IQ, Reuters and many more, as well as through our social media and email distribution lists.
Ben Pirie
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