Thanks for the reply; to be honest I don't really agree with the...

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mondyinvest

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16/01/25

12:39

Post #: 77430120
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Originally posted by BoogieB: ↑

I’m well across the companies history and there are huge differences to what ROY were doing compared to MGT.

A few things like core samples,

Appreciate the links as it’s always great to refresh the memory and why I invest. Sorry but this is on my phone.

let’s start with 2011 - this looks like a children’s high school project. No one is dropping over a $B for a company that has pictures of pigs and bacon on their reports.
On a serious note, first point for me here is high grade (which they did not have definitive answers on at this stage) fetched a $5 premium. This amount now sits at $40+ with this expected to continually increase.

Economically in 2011, they priced it at $120 a ton to be viable. Economics pooped its self at $100 making it not viable. There are some major factors in this price model too but I’ll point out the higher level items.

2013 - PFS is clouded with contradictions. They planned to dig up Magnetite and Hematite with separation processing. Due to electrification improvements, this is a huge defining difference. They also had a mine life of 25 years. This has almost quadrupled.

the optimisation study was a pretty way of saying let’s increase production to make it viable. MGT has gone the other way with a focused item. At this point, high grade is a thing but green steel as such does not exist.

2013 - 30% of SA electricity is renewable. This is pivotal

2014 - the study just tried to push infrastructure away from the company itself, hoping that some fairy would build those items. again they played with output to try and increase value.
RIP Royals mismanagement.

2016 - Paris agreement signed. This is pivotal again.

2021 - SA’s grid was supplied via 100% renewables for 180 days. Enter green steel viability with magnetic separation.

2021 PFS - this crumbled after there were rumours online again of production capacity going up to 15mTpA. The PFS released a 5mtpa-10mtpa doc.

through 2010 to 2018 I spent my years investing in banking. i kept an eye on many iron ore juniors and economically they could not compete with WA.

2021-2024
SA grid to supply the mine (green steel tick)
magnetic separation improvements
DRI grade pellets
increased mine life
increase resource size (off the back of drilling results done by current management).
low impurity ore
and soon to be the biggest of all thanks to the Paris agreement - carbon tax.

economics have brought price of production minus a $40 premium down to $40-55 a ton to produce green steel. It’s almost in-parreleled across the world.

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Thanks for the reply; to be honest I don't really agree with the strength of the points you're making but I very much appreciate that you can have this discussion in such a factual and civil way, it's a rarity on HotCopper - love it. Wish you all the best with your investment here.

MGT Price at posting: 13.5¢ Sentiment: None Disclosure: Not Held
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