MGX

1.54%

32.0¢ mount gibson iron limited

That should say 10.17% (not 12% as I wrote in my above post).And...

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Goodheart

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19/08/24

11:11

Post #: 75265952
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Originally posted by Goodheart: ↑

We are already the biggest shareholder in FEX st 8.6%. The options would take us to 12% with a position on the BoD.
FEX is also located in the same area in the mid west that we are currently exploring. The relationship is perfect for any synergies that may occur.

The difference in personal style between John Wellborn and Peter Kerr is like chalk and cheese. Peter speaks quite monotone and not one to express excitement but to just clearly state the numbers in a rather dry manner as the accountant that he is.

On the other hand, John was just about wetting his pants with excitement when he announced the purchase of Shine. At Noosa, John spoke with much exuberance. The first thing John spoke of was football. John even made Shine sound exciting, only mentioning 60% grade (a couple of isolated pockets of 60% amongst the 59%) and zero mention of silica at near 10%.

Even now due to high silica in Acacia, Peter is not only delaying mining for a better IO price but also to blend with high grade to maximize profit.

Having someone like Peter may not be best for promoting the company to football fans.
However, Peter is very good for critically examining the numbers so that we make the right choices for the future.

We only have 6 weeks to run in the current quarter, which should see the work on the new haul ramp completed, at which stage we can get back to 1 million tonnes per quarter of high grade.

I am sure Peter's mine plan is making the best use of time and money over the duration of the project. The downturn in the current quarter will be more than made up for going forward.

In the past, previous CEO, Jim Beyer, to appease shareholders, stated a stradegy of having a mine plan that had less ups and downs from quarter to quarter . . . (but at the expense of being less cost efficient over the longer term).

Peter stated at Noosa that he intends to improve the value of what the market has placed on Koolan.

Peter also stated that an aquisition could happen as soon as next year

Expand

That should say 10.17% (not 12% as I wrote in my above post).

And today we learn we have taken up those options in FEX (who are also suffering from subdued SP in the sector).

The June quarter saw rapid increase in our investment in juniors from $5m to $19m (not including FEX).

The recent slump in SP across the sector would be good timing for putting some of our dry gun powder to use, by further increasing our investment in those promising juniors.

MGX Price at posting: 32.5¢ Sentiment: None Disclosure: Held
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Last 32.0¢		Change -0.005(1.54%)		Mkt cap ! $389.5M

Open	High	Low	Value	Volume
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That should say 10.17% (not 12% as I wrote in my above post).And...

Neurotech knocked back by FDA as agency declares target condition not rare enough for special status

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

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Cokal upgrades infrastructure for BBM ramp-up in Indonesia

Buxton projects new graphite province discovery at WA Narryer play

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

BCI reaches close of funding facility for salt-first part of Mardie project

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Sellers (Offers)

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That should say 10.17% (not 12% as I wrote in my above post).And...

Top Stories

Neurotech knocked back by FDA as agency declares target condition not rare enough for special status

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

Week 40 Wrap: China's nonsensical stimmy hype wanes (shocking!); HotCopper's picks; oil & inflation

Cokal upgrades infrastructure for BBM ramp-up in Indonesia

Buxton projects new graphite province discovery at WA Narryer play

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

BCI reaches close of funding facility for salt-first part of Mardie project

Solstice Minerals to ramp up drilling campaign at Yarri Gold Project

White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News