Ann: Iron Hill Exploration Update , page-5

Legume,

Hi,

Whats your thoughts on the 5-7 million tonne prospect @ 60% for Iron hill.

I thought it would be a bit more - that works out at around 3-4 million tonnes which would add about a year to its extension hill operations.

Am I reading that right - if MGX can replicate that again at EH south then they might get another 2 years.

I am trying to work out if should buy in again at 1.10 mark (I sold out in the 90's) but would need to see a substantial upgrade in reserves to be confident of buying over 1.10.

MGX has done a great job in the last 18 mths - it just a question of value now that the EV is starting to climb above 600 million.

Thanks in advance