Hopefully AGC explodes on their exploration results as they deserve it and their holders have been patient.
Would make MAG's holding in AGC worth a lot more if it did, which means (a lot more) potential cash for MAG in the future if it needed it.
Also, would be good to have another discovery under the belt (would make it Adam's 4th big discovery in the area/NSW (excluding Myall)).
You'd think MAG and (likely mostly) FMG have reviewed everything they could for Myall and are about to sign off on a big drilling campaign that will target what they're after; a Tier 1 deposit.
And Adam gets to see if his analysis/model on Myall, which he released not long ago, will equate to another big discovery in the area for him.
I'm a little bit annoyed too at drilling not yet started, but I completely understand as we're dealing with a Major, where they like to tick off everything they can before they get going.
Should get an Ann any day now (if/when we do is another story haha).
Either way, news ain't far and could/should drop any day, they've got a lot of cash, are exploring other projects, have $14M to spend via FMG, are getting 10% operator fee on the JV, will shortly be exploring 3 projects at once, FMG sees Tier 1 potential at Myall, etc.
Probably the best place that MAG has been in since listing on the ASX, IMO after holding for a long long time now (and pretty sure you've been around for a long long time too - not long now?
).
Cheers,
GB.
