Ann: Chairman's Address and Presentation to 2021 AGM, page-26

Iron Bridge has been a major stuff up. Design shortcomings, contractor dramas, shirt changes etc. They’ve had a turnstile of workers go through that joint. Similar to what happened with the Inpex Ichthys LNG project in darwin and what’s currently happening at Rio Tinto’s Gudai-Darri Iron Ore Project in the Pilbara.

One of the major benefits of MGT’s route to production is the simplicity of their mining plan. Starting off small and building up through modular design takes away the risk of having too many different contractors on site all working on top of each other, building the same thing. Once the foundation, inital plant and mine structure is built, MGT can then add extra benefication modules, ROM’s, transfer stations, conveyors, TOL’s and rail.