Thought it was time for an UPDATE.In today’s market, MGT’s...

Thought it was time for an UPDATE.

In today’s market, MGT’s planned 68.5% Fe concentrate will be the best quality Australian iron
ore product available

So far we have recieved;
 5 Mtpa ‘DR-grade’ production scenario confirmed as Stage 1
 Razorback JORC Ore Reserves increased by 340% to 1.6 billion tonnes,
confirming potential for continued expansion and long life
 Metallurgical testwork confirms 68.5% iron, premium grade concentrates
 Concentrate transport corridors defined with clear logistics pathways
 Green energy grid power solution defined. 100% by 2030
 Iron Peak Mineral Resource increased to 503 million tonnes
 Mass recovery significantly increased to 19.4% (from 16.8%)
 MoU signed with Whyalla Ports to investigate iron ore export services
 MoU signed with Flinders Ports to investigate port services, including
potential greenfield deepwater port development at Myponie Point
 Membership commenced with leading research initiative HILT CRC
 Magnetite Mines in strong cash position with $7.09 million cash on hand
 First land access agreement signed for Hillgrange rail-side infrastructure location
 ARTC confirms no impediment for proposed siding connection
 Report by BDO EconSearch into the economic impacts for South Australia from the company’s Razorback Iron Ore Project. It confirms a $31 billion contribution to the state economy over 30 years as well as extensive employment opportunities.

Some of the upcoming announcements
 Iron Peak maiden Ore Reserve now under assessment
 Three water supply options identified - Three technically and economically viable Project water supply options costed. Preferred option
is currently undergoing commercial-in-confidence negotiations


Other points to note;
Value engineering (VE) program to reduce capital and operating
costs for the new Project configuration prior to DFS-level engineering
Producing concentrate samples for customer assessment
The total number of Company shareholders has reduced from approximately 10,600 to approximately
6,500

The Company continues to advance discussions with a wide range of potential strategic partners,
including iron ore producers, steel producers, trading houses, project financiers and institutional
investors.
The high level of investor and industry interest in the Project supports the Company’s view



We also have these figures contributed by a member on here.

The final open pit optimisation modifying factors utilised to calculate the breakeven cut-off grade for the Ore Reserve estimate were:
•Processing cost = A$5.42/t ore
•Price (CFR destination incl. premium) = A$227.80/t
•Transport and shipping cost = A$42.15
•Royalties (@ 6.25% of Mine Gate Price i.e. price – transport) = A$11.60
•Net Commodity Price = A$174.05/t concentrate
•Recovery = 97%
=> Breakeven cut-off grade (eDTR%) =$5.42
$174.05 x 97%
= 3.21% eDTR