Good morning, had another read through last announcement and we...

Good morning, had another read through last announcement and we have definitely had some changes and upgrades of MGT, as mentioned above they have had several site visits with prospective clients, and secured access from privately owned land for the rail corridor with potential to expand with increased capacity.
One important factor is water supply and study, from what I read it was completed in June, so announcements on this are are still pending. With 5.1 million cash on hand hopefully no CR is needed short term.
As much as it has been hated by some, the ESG requirements are being addressed early in the process and are needed for future development due to global requirements, all the the ducks are starting to line up and what’s needed now, is one or more of the Intersted parties to commit with initial investment, I’m personally happy to wait for DFS if it means a guarantee of partnership in order to fund this project.
What we must remember as share holders, once you mention starting an iron ore project, it can also be described as an infrastructure play, this meaning that not only the landscape but also the neighbouring towns, population, infrastructure, and economics of the area will change dramatically, so it’s not going to happen overnight. Future potential to increase resource as only 30km of 110km has been explored, hopefully we progress with what we have and explore the potential once construction has begun.
At the moment I think MGT is currently at the launch pad and based on some positive feedback from management at regular basis we could see some renewed interest from retail investors in regards to share price.
Ultimately at these levels I’m happy to keep accumulating with small purchases and keep catching the falling knife as mentioned by others investors.
South Australia is possibly one of the best places with regards to renewable energy and this will definitely make the green steel more attractive for investors. The only downside at the moment is what’s happening globally that is putting the uncertainties not only on mgt but all companies everywhere, therefore we can’t blame management in this area, finally I see this a big positive, mgt is starting from scratch and doesn’t have to spend billions of dollars to change or convert to meet carbon emissions, for example like FMG have over the past few years.
That’s my spin on this, but everyone needs to do their own research.