To put a JV or a TO, into perspective, you need too refer to the...

To put a JV or a TO, into perspective, you need too refer to the Expansion Study, Razorback High Grade Iron Ore Project, dated March 2022.
A JV, or TO, wont likely happen, until MGT passes the following, "Permitting, Enviro & Native Title". [see attachment].

MGT is still in the EL phase, (Exploration License, 5 in total). The resource base is held within five 100% owned and operated Tenements, EL 6353, 6126, 6127, 6037 and EL 5902 totalling 1,520 square kilometers. MGT need to advance past Native Title with what's classed as a live ML (Mining License), before anyone takes the Razorback Project with some seriousness. Ex; we need EL 6353 to change to ML 6353.