Ann: Magmatic Secures Strategic Gold Project in WA Goldfields, page-8

It's always nice to have yes-men around you!


Malcolm is actually decent, but I'm not sure if he's actually doing any work for the Company though (outside of Board meetings) - I hope he is.


Andy never left by the looks of it ("current Technical Consultant"):







Acquisition is probably the last thing anyone expected as they have the JV, plus two other projects with a lot of targets (from memory, they mentioned years ago that they have about 50-60 targets just at Wellington North).



Interesting to see that they couldn't get Parkes and Wellington North drilled (especially WN with all it's historical/work to date), but they're saying that they'll drill the new project in the upcoming quarter (quarter starts in a couple of weeks - but obviously you'd think more like end of qtr than start of it).

And they're "adding capability"/team for their WA/acquired project (ie. not for the NSW projects).

The above two points sound like they're not going to do much/any more work on the NSW projects (outside the JV), and will JV the other two projects out too, and concentrate on the WA acquired project?

Would make sense as the NSW projects are mostly porphyry and not cheap to explore, and WA is shallow gold, and gold price is at all-time-highs.

See what happens, but let's see if they do drill the new project in the next quarter, which would obviously be good if they do - drilling a non-JV project, alongside FMG drilling the JV project, and then Parkes & WN projects JV'd and getting drilled too.

Obviously Parkes & WN JV is pure speculation, but today's announcement points to it more than not?



Also, will FMG be diluting or stumping up a bit more cash to remain at 19.9%?



Cheers,

GB.