Mining at the west end of main it finished 2 weeks ago. Now mining is being redirected to the eastern end for which the haul ramp needs some major work which will incur a reduction in ore extraction, especially during the current quarter in which will cause a major reduction in shipping. We have exhausted the stock pile as a back up.
Also there is sure up work of the northern wall required before the area can be mined.
Following that we have typhoon season.
This is probably a good time for those with no patience to finally get out as they have said they would.
Peter mentioned the time frame of acquisitions to be 1 to 2 years in his presentation at Noosa yesterday.
For those who are patient Peter said guidance will improve in fy26 and fy27.
I am long on MGX.
MGX Price at posting:
38.0¢ Sentiment: Buy Disclosure: Held
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