GG,
Nice find - I had a read and all of that 12-14 million tonnes is no deeper than 5 metres in an area of only .8sq kms so presumably there wouldn't be much in the way of stripping costs.
I spoke to the Investor relations guys a while back. Apparently there are visible outcrops at Extension Hill South which are also promising so I think there is plenty of life left for Mt Gibson in the mid-west. On top of that there are resources at Koolan Island that can easily be upgraded in reserves.
Furthermore there are heaps of other Iron Ore plays in WA with plenty of resources and no cash that at the right price could be EPS accretive for MGX.
fields find - plateau prospect, page-2
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