Bottom of cover page from 31Mar22 quarterly released 26Apr22:
'which gives the Company confidence for the generation of substantial cashflows from Koolan Island over the next five years' - so 2022,2023,2024,2025 and 2026. And of course, since issuing that announcement the annual production guidances have increased and FY24's targets will be released on 23Aug23, my predictions for these targets are:
Production target(ore mined): 4.25Mwmt to 4.50Mwmt
Sales target(ore processed/shipped): 4.50Mwmt to 4.75Mwmt
Reserves at Koolan Island at 30Jun22 were 16.0Mdmt
Ore mined in FY23 was 3.996Mwmt(equiv ~3.85Mdmt)
So expected reserves at KI at 30Jun23 are ~12.15Mdmt(to be announced ~29Sep23)
You can see from the above that KI will be mined out by 30Jun26 at the above rates and there would only be up to three month's sales of the remaining stockpile to be made by 30Sep26. This assumes no more 'incidents' at KI in the meantime.
MGX Price at posting:
42.0¢ Sentiment: None Disclosure: Held
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