Ann: Karara Mining CEO to change , page-24

SDO,

A number of reasons. MGX has plenty of prospective fe desposits in the mid west. In their most recent announcement they advised further dso mining in the mid west scheduled to commence Sep. They have a very valuable asset in the midwest which is easily utilised. They have infrastructure in the area that can be mobilised for fe dso mining. There are plenty of "locked" fe dso deposits in the midwest, the problem being getting the stuff to market, and port access is the biggest issue.

GBG itself speculated on selling it's Shine deposit, and that's something MGX would be interested in, but there is plenty of other stuff out there.

The whole iron ore story is one of logistics and bottlenecks. The resource itself is not currently considered scarce, and the midwest is littered with it, magnetite and smaller hematite deposits.

Anyone thinking MGX is looking to exit the midwest is dreaming.