Let's all take a bit of a step back and look at the Lassonde...

Let's all take a bit of a step back and look at the Lassonde curve again...

Yes, I get that MGT did a PFS previously, and then went into the 'Orphan Period' for a decade, but that was under different management, in a different world (where companies had different mandates and word 'green' was just a colour and not an essential ESG aspiration), with different PFS parameters.

If we look at the below picture, it is expected that once the 'Discovery' happens (which, for our purposes, is effectively our 2021 PFS where we discovered that yes, this mine does make sense economically), then our current orphan period is expected to last 2-3 years while we do further feasibility studies.

We are well within that time horizon, and perhaps our downfall has been that Management were too enthusiastic about getting a DFS completed within 18 months when historically, it has taken a lot longer.

All of the recent communication has touched on finding strategic partners and/or financing discussions, which is the catalyst for MGT's value to start rising again (again reflected in the below chart).

Yes, that will mean dilution.
Yes, that's normal - this is a junior miner; of course you're going to be diluted at least once until the $$ start coming in.
No, it's not poor management.
No, it's not mismanagement or directors 'lining their pockets'.

Yes, they could have set more realistic expectations in the first place, but nobody's perfect.

I'd love to see every cent of value remain with current shareholders, but that's not a realistic expectation.

Getting to production with 50% (or even less) of the equity in a mine is better than having 100% of the equity in a mine that we can't get funding for.

Let's all remember that this is a MASSIVE project. These things won't happen overnight.

Optimisation plans will take 6 months.
Completing the remainder of the DFS at the higher output will take another 6-12 months.
Finalising the funding and the commencement of construction will take a further few months.
And construction will take at least 12-18 months after that.

That leaves us mining in 2026 (IF everything goes to plan).

Yes, that's a long time, but it also means that hopefully we're on the other side of:

- labour shortages;
- high inflation;
- high construction costs;
- market instability; and
- all the other crappy macro impacts that we're currently facing.

If you're not willing to wait out those timeframes, you're in the wrong investment.



NB: I'm not an expert in either mining or investing, so DYOR, but let's use this forum to be productive. I'm sure I'm not the only one that's sick of having to trawl through the crap to find the posts that have substance.