Key things I take away from this announcement
Pros
- Increased cashflow and alternative revenue stream to KI
- Current IO price quite high so it makes shine a more than feasible investment
Cons
- Quite a high strip ration 4.8:1 with 3mths of prestripping work before mining begins. Thats a lot of time for a 2yr mine life
- 2yr mine life + extension by another 2. This is something MGX has always struggled with. KI for that matter sits at approx 5yrs from memory.
Lets see how the market reacts.
Ann: Shine Iron Ore Project Update, page-10
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