MAG 4.76% 6.0¢ magmatic resources limited

Ann: Quarterly Activities Report - March 2024, page-2

  1. 5,700 Posts.
    lightbulb Created with Sketch. 8023
    You can tell they're happy with the current situation/cash as I can't remember them ever lodging the quarterlies early!


    Good to see over $4M cash at the end of the quarter (bit more than I thought they'd have).

    MAG - Cash - 31-03-24.jpg




    Looks like we'll get an announcement on Myall shortly re; what/where they're drilling - MAG/FMG Exploration Committee formed during the quarter and finalising the program:

    MAG - Exploration Comm - 24-04-24.jpg




    Exploration (close to end of quarter) restarted at Wellington North project, starting off at Boda Southwest:

    MAG - Boda SW sampling.jpg




    They've also (a bit) surprisingly already started reviewing targets at the Parkes project too and will commence exploration there next quarter:

    MAG - Parkes - 24-04-24.jpg




    And another surprising one is that Adam has kept his salary reduced by $25,000, even though they have plenty of cash now:

    MAG - Adam salary reduction.jpg




    Feels a bit like a different company (lodging quarterlies early, cashed up, MD voluntarily reducing salary, operating jointly with a Major miner, exploring over 3 projects simultaneously..).


    Cheers,

    GB.
 
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