Exploration and Development Strategy

Why is it that large gold targets identified by MGV's newly applied geochemical et al exploration tools in 2019 remain UNDEXPLORED and UNREPORTED, more than 3 years later?

My conclusion is that when the EVN JV was concluded in September 2019, that our Board went into semi-hibernation awaiting EVN to reveal their intentions.

The new Western Trend basement targets referred to in the recent Amarillo announcement had been identified over 3 years ago.
IMO, it has only been the glacial pace of exploration north of Big Sky since the signing of the JV which has impeded the drilling and assessment of these targets.
Why?

JV structure
EVN were given 5 Years to virtually explore at their leisure, to measure and analyze and model, and to make their strategic long term development or sale decisions.
The MGV Board granted EVN a 5 year option to take a 75% controlling interest in more than 50% of their territory.

They sold out then because that JV stymied (polite alternative to F***D) any other potential partnership or development path for MGV for a period of 5 years
The MGV Board happily accepted this as their planning horizon is long term.

I believe that both EVN and MGV agreed to an Exploration strategy that PURPOSELY avoided areas anywhere near the JV southern boundary.

Examination of previous "disclosures" by MGV suggest that the new Western Trend is a new shear which intersects the Lena/BOD Shear around the Lake Austin North target area

The figures copied below are from MGV ASX announcement (pre JV) on 28th February 2019 and they depict this "Western Trend" shear intersecting the main BOD/Lena shear nearly 3 and a half years ago.







So here we are 3 and a half years later and now MGV describes "Aircore drilling to the north of Amarillo has identified regolith gold mineralisation in previously untested areas."and "These new targets (Figure 4) are all within the southern extension of the dolerite unit that hosts the high-grade gold mineralisation identified at West Island, 5km to the north on the Evolution joint venture tenements."

No mention of it being an extension of the Lake Austin North dolerite unit located much closer than 5 Km to the north.
No mention of it being an extension to the Big Sky deposit.

Typically non specific, non informing and presented to UNDERSTATE the significance of the development.

Over the last 3 years EVN have spent over 12 Million dollars, further drilling and researching the greater Lake Austin JV Area.
They must have some idea what is going on.
MGV Board would also have some idea what is going on.

The only IGNORANT ones are the Market and ordinary Shareholders.

This is not acceptable and i call on the Board of MGV to provide clarification regarding this Western Trend shear and its path into and through JV territory.

Why should the market in MGV shares be allowed to trade in such a Vacuum of Disclosure?

I urge holders not to sell until THE MGV BOARD clarify their development strategy in light of the EVN 5 year "option" which effectively "strangles" a MGV DIY Development.

The latest Board appointment announced last month appears to pay lip service that MGV is contemplating doing anything on their own, without a larger development partner.

“Thisis a significant appointment for Musgrave and facilitates a pathway to accelerate the Company’s strategy oftransitioning Musgrave from a successful exploration company to a successful gold producer."
Sounds good but it is VAGUE and MEANINGLESS and CONSISTENT with the Board's lack of a clear and articulated strategy or plan.

What do others think?
GLTH