March quarter predictions, page-89

Hi Alex
$800 million?
Miningnut's current estimate as of this month is $440 million, the bulk of which has been accrued in little over one year. and that does not even include our share in FEX.
Just 8 weeks ago MGX'z asx announcement stated we still have 3 more years to run . . . and thats on the current mine plan.
LOM is dependanf on the mine plan.
When BHP had Koolan their mine plan ran out in 1992 . . . but that was not the end for Koolan . . . then Aztec took over who eventually handed Koolan over to MGX, because Aztec's mine plan proved not to be economically feasable.
The expiry of 3 years, as stated in the January announcement, does not necessarily mean that Koolan will never be mined by someone in the future who have an economically feasable mineplan.
We already possess an extended lease to 2031 on Koolan
If the BoD do choose to shutdown Koolan, re-establishment costs of native flora and removal of infrastructure is somewhat negotiable as there has already been expressions to leave some particular infrastructure in tact for future re-purposing. The air strip is one such item that has already been ear marked to stay.

As an example . . . much of the infrastructure on nearby Cockatoo Island, where BHP also had a mining lease, was re-purposed as a resort by Alan Bond . . . what was previously used by miners was revamped to tourism.

And now Cockatoo LOM is once more being resurrected by Chinese owned CIM, who also have tennaments on nearby Irvine and Bathurst islands, also rich in iron ore, awaiting an economically feasable mine plan.

There is a strong possibility that the local first nations people, of which many are currently employed on Koolan,
may take up the opportunity to run a tourism business . . . as Koolan is renowned not just for scenic beauty but also as a fisherman's paradise.