The report addresses both dividend and future direction of MGX.
Glad I topped up at 42.5c
The report also differentiates grapes from cherries . . . DSO from KI is very low in phosphorous (lower in phosphorous than that Vale produces). Phosphorous cannot be removed in the blast furnace. Phosphorous removal requires further processing in the Basic Oxygen process.
A nice touch of history also included in the report with HMS Britannia visting KI in 1963. Queen Elizabeth II and the Duke of Edinburough were escorted around KI by the premier of WA. The premier's mission being to influence her majesty, who the then primeminister, Sir Robert Menzies, was very fond of, to lift the trade embargo so that KI ore (and WA ore) could be sold to Japan. This is exemplorary of the pro-mining attitude of the WA government which continues today. It is most likely MGX will re-invest in WA . . . maybe in Mullewa, in which this report has shown increased focus . . . . or a spread of investments that may include Fennex who are also spoken about in this report.
The report also tables significant resource on KI and includes a map of Acacia. PK has spoken publicly about the possibility of mining Acacia in the future . . . Acacia is not included on PK's current mine plan. Mining at Acacia already started under previous CEO Jim Beyer's mine plan with several ship loads sold.
MGX Price at posting:
43.5¢ Sentiment: Buy Disclosure: Held
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