The most recent annual report now includes the following...

The most recent annual report 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."

The most recent quarterly report states LOM 3 years (2027) . . . however . . . as I have posted previously
1. previous CEO Jim Beyer 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 additional footprint of 143 acres which includes the satellites of Acacia and Mangrove
6. In a public presentation in Perth 3.5 years ago Peter Kerr stated he was looking at options of extending LOM Koolan.

Extension of LOM Koolan is not the only option that Peter Kerr is currently critically examining. As he discussed in the most recent quarterly report, Tallering Peak is still on the table as well as tenements in the Goldfields area of WA as well as having a financial interest in several juniors that they have been closely monitored, that could be looking for some capital to develop.
Not only were tenements in the Goldfields area of WA mentioned in the most recently quarterly report, Peter Kerr also stated at a presentation in Kalgoorlie 3.5 years ago that MGX was keen to add precious metals to their portfolio.

Having multi mine exposure is nothing new to MGX so it may well be the case of going down several paths.
Peter Kerr has a financial background as a chartered accountant, experience that is vital in the critical examination of all our options that are currently on the table.