Considering only O.6mt of lower grade shipped due to work on the haul ramp, I think we did pretty well. As I mentioned before, it was great that the insurance cheque arrived while we were working on the haul ramp.
Today's announcement states shipping now back to usual along with access to high grade ore which Peter intends to take down from the current 130m to 210m with guidance of waste to ore of less than two to one.
The quarter was also utilized to commission the beefed up improvements to the crusher which will contribute to cost reduction.
Also great news to hear that our tennament (near Mullewa) has progressed from exploration to analysis with view to a project.
Metallurgical coal and Queensland still on the agenda (90% of Australia's metallurgical coal comes from Queensland).
Investment in FEX now at 10.06% and investment in juniors at $17 million.
Buyback continues with the possibility of buying back more than 5%.
MGX Price at posting:
31.5¢ Sentiment: Buy Disclosure: Held
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