MGT 1.89% 26.0¢ magnetite mines limited.

thanks for this @Kristianh, and its great to hear from someone...

  1. 139 Posts.
    lightbulb Created with Sketch. 221
    thanks for this @Kristianh, and its great to hear from someone who has a strong background in this stuff! What you say makes excellent sense. I tried doing a few calculations the other day and made a few mistakes so withdrew my post, what is much better than my theorising, is actual experience that you clearly have here. It makes sense that for a young mine, power requirements will be low at the start, and handled by onsite generators until production rate ramps up, when it then may be necessary to combine generators with grid power. It is encouraging to see that FMG has done this in their early stages.

    @TenReeez, that is really interesting about the interconnecter, I will look more into this. I agree that ScoMo and the current Fed Government are supportive of mining ventures and likely to support policy that furthers the success of expansion in this sector. I also would like to add that state Government support is great in SA for this stuff, I mean as most of us know they have a 10 Billion dollar magnetite strategy
    https://energymining.sa.gov.au/minerals/about_us/initiatives/magnetite_strategy
    and their energy policies are leaving Victoria to shame (which is where I live currently).

    I also have to agree with most of you that I thought water was more of a challenge than electricity, but again, I think that MGT will assess all possible solutions and choose the optimal one in terms of expense and suitability, much like they are doing with the selective mining approach to extraction. @BullishTrends you make a great reference to the information regarding aquifers being located within 40km of the mine site, and I agree that further specifics on this are likely due pending further ELA's assessments. Plenty of miners are at a similar or greater distance from fresh water. See this: https://www.pexgol.com/case-studies/high-pressure-water-transport/, they laid 1.4km of piping each day "using only three operators and a backhoe", with a total distance of 12.5km. So permits and feasibility permitting, triple this shouldn't be too much of a problem if we can get it straight from the aquifer. Even if something more substantial is required, engineering contracts for this type of thing are very common, and IMO if MGT are at the stage of laying pipes, then its on baby! I for one would welcome CAPEX if it is for the laying of pipes for mine building, as an investor it is good to see everything come together! Anyway I am looking forward to finding out more about this upon the PFS announcement!

    Last edited by jovialmonk: 18/09/20
 
watchlist Created with Sketch. Add MGT (ASX) to my watchlist
(20min delay)
Last
26.0¢
Change
-0.005(1.89%)
Mkt cap ! $27.06M
Open High Low Value Volume
28.0¢ 28.0¢ 26.0¢ $39.82K 152.0K

Buyers (Bids)

No. Vol. Price($)
6 26773 26.0¢
 

Sellers (Offers)

Price($) Vol. No.
27.5¢ 7500 1
View Market Depth
Last trade - 15.58pm 26/04/2024 (20 minute delay) ?
Last
26.0¢
  Change
-0.005 ( 5.45 %)
Open High Low Volume
27.5¢ 28.0¢ 26.0¢ 17311
Last updated 15.58pm 26/04/2024 ?
MGT (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.