What is important is the mine plan . . . much more so than the life of mine as expressed in the terms of the ASX / JORC regulation.
The ASX / JORC regulation does not paint the full picture. As stated by Mr Arden from Bell Potter, the ASX JORC regulation is keeping investors in the dark.
The mine plan for Koolan is discussed in the following statement from a 2021 announcement . . .
"Mount Gibson is actively assessing potential opportunities to extend the mine life of the Koolan Island operation. Work has to date focused on optimisation of the Main Pit orebody and is now transitioning to known satellite deposits on the Island."
Later in 2021, Peter Kerr addressed Diggers and Dealers with this same mine plan.
Then in 2022 approval to carry out that mine plan was sought from the Western Australian Government. On 6th December 2022, an application was lodged to extend the mining footprinf by 143 hectares and with a stated end of operation date of "approximately 31.12.2030" . . . with a start date of 2023.
MGX Price at posting:
46.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)