Hi lifeinsanelaneThere has been no detailed timeline mentioned...

Hi lifeinsanelane

There has been no detailed timeline mentioned in the announcements as to when a merger, aquisition or further development of our own tennaments will take place.

What has been said in the latest announcement is that several juniors that we have invested in, continue to be closely monitored.

Recently, field trips have commenced, as well as engaging third parties for specialist advice.

MGX have never disclosed the names of the juniors that we currently have a sum of $5 million invested but continue to say that these particular juniors have potential to grow with the injection of capital.

The most recent announcement also states ongoing exploration drills at Butchers Track, just north of Tallering Peak in Mullewa Shire in WA. Tallering Peak was MGX's first mine.

The latest report states MGX will stay in the bulk base metals business.

MGX is also the largest shareholder in FEX . . . to which we also hold options to near double our stake.

MGX still holds Koolan South tennament, just 800 metres across the water on the mainland. This tennament is of several hundred square kilometres.

Miningnut speculated that MGX would take over mining at nearby Cockatoo Island during 2024. To me, this is unlikely because Cockatoo is in the too hard basket, mainly because the seawall at Cockatoo is not only porous but built on a soft footing. The pit at Cockatoo is curtently flooded and it is estimated would take 18 months to pump out the water . . . any faster would impinge on the integrity of the seawall. Monthly pumping costs are estimated at $1 million.

Koolan and Cockatoo are not the only islands in the Buccuneer Arpelego that are rich in iron ore deposits.