ICYMI: Magnetic Resources @ Diggers, page-5

You simply don't know what you are talking about. You have mentioned in numerous posts that the deposit is deep and that at depth the deposit would not be economical however the released studies clearly state that the deposit is an open pit development - for example from the announcement dated 05/08/24:

'Open pit Mining inventory of 16.03Mt @1.71g/t Au, containing 883,000oz gold. Total life of mine
production includes approximately 84% Indicated and 16% of Inferred Mineral Resource with
the Indicated resource forming the basis of the production schedule in the first 6.5 years.' and

“The excellent outcomes demonstrate that Magnetic’s Lady Julie Gold Project is one of the high
margins, undeveloped gold projects in Australia. The project’s low-cost profile and strong financial
return metrics are primarily driven by the extraordinary near-surface, high-grade nature of the Lady
Julie Central and Lady Julie North 4 deposits. This low-cost profile places the project in the bottom
half of the cost curve of gold producers in Australia.” and

'The operation comprises 3 open pits (LJN4, LJC and HN9), a dedicated 2.2Mtpa processing plant
and associated services and facilities.'

May I suggest that you do some elementary research before posting.

Of course, the development may progress to an underground operation (once the open pit is completed) if they can demonstrate viable ore at depth - this would add further value to the Project (if they can prove up economical ore at depth). However, the proposed open pit development (as per already released studies) is stand alone and not reliant on any underground developments.

GLTA & DYOR