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36.0¢ magnetite mines limited.

Hi @BoogieB, whilst I agree with most of your post, to keep the...

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05/04/24

16:22

Post #: 73210866
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Originally posted by BoogieB: ↑

That’s correct. As you can see in the announcements they have run preliminary numbers at 62% Fe. This sits them at $46-55 per ton without the substantial money paid for 68% Fe.

Yes it’s not a cheap exercise. At the moment, you have a government that is keen to create industry. This means that infrastructure will be supported by the government financially. The electricity deal will be very good, at there is already preliminary pricing and costings, with a great deal struck for a cost basis.

The strip ration is a tick over 16%. (16.02). Step over to muster Dam and it sits higher.

MGT will look to get iron peak going, then will look at a heavily weighed JV for its other tenements, in turn, using MGT’s rail, water and electrical infrastructure. If they can get to mining, they should become a leader in the field.

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Hi @BoogieB, whilst I agree with most of your post, to keep the record correct your first paragraph is erroneous.
The $46 to $55 USD per tonne cost is calculated for the 10 & 5 Mtpa operations respectively WITH the credits from the 68% Fe premium included so as to be an 'equivalent' rate as for 62% Fe.

MGT Price at posting: 29.0¢ Sentiment: Hold Disclosure: Held
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