Addittional to public presentations by Peter Kerr stating the possible option of extending the LOM Koolan, the most recent annual report from 6 months ago now includes the following statement:
"Ore reserves maintained net of depletion, with the Mangrove and Acacia East satellite deposits at Koolan under evaluation. Additional potential exists in Koolan Main Pit deeper cuts which are not reflected in the ore reserve estimate."
As I have posted previously 1. previous CEO Wayne Bould stated in an interview with the ABC that Koolan has a possible LOM of decades. 2. Acacia satellite has already been accessed and several ship loads from Acacia already sold. 3. Mini UG studies have already been done for Acacia and Deep Main Pit. 4. Peter Kerr has stated he is in possession of a wealth of mining data for Koolan. 5. The mining lease on Koolan was recently extended to 2031 with an addittional footprint of 143 acres which includes the satellites of Acacia and Mangrove.
Extension of LOM Koolan is one of the options that are currently being critically examined.
MGX Price at posting:
44.0¢ Sentiment: Buy Disclosure: Held
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