Ann: Noosa Mining Investment Conference Presentation, page-26

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Cunnington1

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23/10/24

12:59

Post #: 76261010
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Originally posted by Goodheart: ↑

Hi Cunnington,

Peter Kerr has included gold on the table with exploration at Bailey's Find in the Goldfields region of WA.

I agree ALK in NSW (got to love CEO Nick Earner) would be an absolutely great investment, but doubt it is being considered as Peter has only so far mentioned WA and Qld in the search.

Peter Kerr has stated that the focus on an aquisition has stepped up and may occur as early as 2025, recently adding bauxite to the mix.

Earlier this year it was announced that there is more high grade at depth in main pit on KI that is not currently included in the ore reserve.
Then in July, Peter stated he would be taking main pit down to the next 150 to 200 metres.
Then more recently we saw the ore reserve statement removing what is "unlikely" to be mined, leaving 19.1 mt likely to be mined.

From those above statements it is clear that Peter is intending to access the ore at depth in main pit that is not currently included in the ore reserve. (most likely the relocation of the haul ramp is part of this plan).

Adding to this . . .
1. resource drills are all open at depth,
2. UG has been mentioned in the past (both for Acacia and main pit).
3. Jim Beyer (previous CEO) stated in an interview with the ABC that KI can have a LOM of "decades".
4. Peter Kerr recently stated that in the time MGX has been mining KI (circa 20 years) that MGX have never been in the habit of stating a long LOM (currently 2027) due to the complexity of mining on KI.

My summation of the above statements is that mining on KI could be around longer than the currently stated 2027.

It is in the historical nature of MGX to be a multiple mine operation, so it is nothing new to MGX to be looking at some aquisitions . . . this does not necessarily mean that MGX is desperate to make an aquisition.

Expand

Desperate is not on my radar ( heaven forbid ) !
For me the slow burn is not working while there are seriously great potential projects just waiting for backers !
We are going to get left behind & paying a lot more for just the average left behind projects IMO.

MGX Price at posting: 32.0¢ Sentiment: Buy Disclosure: Held
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