I am assuming that they will do some in pit work on a revised mining plan over the next year or so to scrape in some more of the defined resource. They have huge incentive to be a little creative with the next mining plan given the amount of infrastructure on Koolan (including the more recent investments made in crushing and loading infrastructure plus upgrade of the airstrip and upgrade to staff quarters).
We know that they have additional 41mt of high-grade resource not in reserves in the current mining plan. But that does not mean that as they approach the end of this plan that they will not look for ways to get a little more of that resource out. I am making the assumption that they are able to access a further approx. 15% (about 6.5mt) of this (possibly as a blend between main pit high grade and secondary pit lower grade) to sweat the infrastructure a little more.
MGX Price at posting:
54.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)