Yes, there is always a chance of something out of left field . . . that is life.
Another valuable point I forgot to add was MGX:s experience starting mines in the midwest. These guys have a lot of experience in what they are doing.
Peter strikes me as a very reserved and methodical accountant type . . . which is something thaI I have commented on in the past when comparing to John Welborn who is constantly setting goals and pushing the envelope.
I think the reserved, methodical accountant type that Peter is will not put the company at risk.
Another point is the type of aquisition/s that we make. Could it be a mix such as FEX has done with mining BeeByn by paying Sino Steel a small royalty on each tonne mined in lieu of handing out capital to purchase an aquisition. Peter and John are mates, so I am sure Peter is well aware of the many ways to make a deal.
If we do develop magnetite at our existing Tallering Peak (the only Midwest asset not sold to Fenix) we already have much infrastructure still in place, can transfer KI's plant and crew and any extra plant such as a ball mill and magnetic separator required to process the magnetite need not be bespoke but is available "off the shelf" from China at short notice.
Have a great Easter.
MGX Price at posting:
31.5¢ Sentiment: None Disclosure: Held
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