Hi Satori,I think it's anyones guess right now whether Cockatoo...

Hi Satori,

I think it's anyones guess right now whether Cockatoo has another source of quick ore to generate an early cash flow. Also, given that Cockatoo has been owned by a private company, there isn't much useful information available on the web about past drilling etc.

I've found it useful though to look at some of the announcements for Koolan Island, owned and operated by MGX since around 2006 I think. The island has similar geology to Cockatoo and they share the same main ore body. If you look at the two attached announcements, you'll see that MGX, since acquiring Koolan, have identified some other easily mined ore at "satellite pits" on the island. We have to remember that Koolan is a much larger island that Cockatoo, but I think there is good upside potential.

Here are some links:

http://www.mtgibsoniron.com.au/uploads/13.8.10%20-%20Koolan%20Site%20Visit%20Presentation.pdf

http://www.mtgibsoniron.com.au/uploads/13.11.08%20-%20Koolan%20Island%20Western%20Iron%20Ore%20Targets.pdf

http://www.mtgibsoniron.com.au/uploads/30.6.08%20-%20Koolan%20Main%20Pit%20Extension%20Drill%20Program%20&%20Presentation.pdf