MGT magnetite mines limited.

4.44%

9.4¢

Ann: Iron Peak Mineral Resource Significantly Improved, page-12

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Orey7895

831 Posts.

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09/02/23

11:08

Post #: 66152667
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Originally posted by Whitfordboy: ↑

Firstly i hold and have held MGT for over 6 years, i want to succeed as much as the next person but....

I see no real advancement in getting this project financed and constructed for a long time now

yes i realise the increased resource the grade improvement etc. improve the economics to secure finance but we've been sitting on an enormous deposit with a high end grade for how many years?

why continuously spend money on something that in every announcement for the past 3 years states we have billion ton resource high grade, tier 1 mining jurisdiction blah blah blah.

We know that high grade magnetite is scarce, we know theres a growing price premium for high grade magnetite you tell us and others every month or so in your "mining roadshows" we get it!!!

We have a board of directors and a team on paper that looks to be of high calibre. What are we doing to get this thing financed and built?

Like actually financed and built not fluff to keep you paid whilst lining the pockets of consultant firms youve been in with or plan to be for the rest of your careers.

Look at the money spent in the last 3 or so years to find out what?

Lets do a PFS that looks great- low capex but scalable right that sounds great and thats what they done thats where millions of dollars went to studies consultants etc. only to come out and say we have such a demand for our product we have to go back over what we just spent millions and years doing.

What about the low capex approach you harped on about for years???
What about telling us where the water will come from?
what about telling us wtf happened to next ore?

We're in worse economic times now then when we conducted the PFS but we want to construct a bigger plant that'll cost signifacantly more?? when we've been telling you for 3 years that the low cost start up is the way to go?

Honestly for the money we've spent and the time spent on this by an experienced board i think theyve severely under achieved SEVERELY.

AIMHO

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You clearly haven't read any announcements.

They are spending exploration money to get outcomes like todays announcement.
They addressed the low CAPEX vs high CAPEX and returns
They mentioned water in the last few quarterlies
they previously explained next ore....

MGT Price at posting: 53.5¢ Sentiment: Hold Disclosure: Held
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