Aside from aquiring another company (which may happen as soon as 2025 as stated by Peter Kerr) we may well be starting a new mining project in the midwest on our own tennements.
From the recent quarterly report . . .
"Minimal field work was undertaken on the Company’s Mid-West exploration tenements with activity focused on data reviews to assist planning for future work and new project generation."
New project generation in the midwest would be an excellent fit with our investment in FEX, whose expanding New Haul trucking business can transport ore from the midwest to Geraldton Port for 6 cents per km per tonne which is cheaper than rail.
The cost of transporting ore from the midwest to Geraldton port is the major component in costs (being near on double the cost of mining). The reduction in transport costs is a factor that allowed FEX to restart Shine.
MGX Price at posting:
31.5¢ Sentiment: None Disclosure: Held
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