Ann: Quarterly Activities Report, page-15

What a depressing presentation.
*No info on action to extend future life of mine
*No questions from institutions...what a high level of interest!
* No info on the investments made in companies other than FEX
*Clear indication in terms of capital allocations that the co is all about investing in future operations elsewhere, which is a black box for non Director investors, and no hint of cash flow going to shareholders directly.
*Writedowns coming up based on lower current IO prices.(will they reverse if IO increases??)

My impression is that this is being run for the Chinese majority owners who have what objective?? Buy cheap by maximising negative perceptions? Buying a jet capable airstrip? Get MGX to buyout a dud investment they made elsewhere??? Accumulate cash to make a really great mine investment ??

All that cash and so little disclosure is ripe for unethical behaviour