MGX 0.00% 35.5¢ mount gibson iron limited

Ann: Quarterly Activities Report, page-13

  1. 976 Posts.
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    Alex - they are yet to touch the satellite deposits.

    As they turn their focus to their mine plans (now that they have everything up and running), I suspect we shall see more information on this front over FY24.

    However, I am not seriously concerned that the mine will be exhausted in a couple of years as some have tried to suggest through referencing the 16mt ore reserves only. They have time, funds and scope to turn a large portion of the mineral resource into ore reserves, plus undertake further drilling. They know this (see below from Diggers and Dealers presentation in 2021), but have been distracted these past few years with the Footwall works, upgrades to Koolan Island infrastructure and then the crushing plant fire.

    https://hotcopper.com.au/data/attachments/5438/5438071-d04727797c956aafbdfff14829d137d5.jpg

 
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