Quarterly, page-38

"I can see this being a very long and drawn out negotiation and therefore wouldn't put much value in the insurance at this stage."

I agree with this statement.

Insurers read ASX announcements as well... They would be well aware of MGX's cash position, desire, and sh pressure, to get the repair done asap.

If indeed they are covered for the collapse of the seawall, and not just Loss of Profits, the insurance "process" (assessment, investigation, negotiation, authorisation of repair, etc) could well impede MGX's decision regarding Koolan. It may well be better for the board to decide to do it themselves and take a token cash settlement (which it would be) from the insurer. Even that will be well down the track.

If i was the m'ment/board of MGX, I would quietly place little to no value on the insurance policy and if MGX ultimately gets something comes out of it, so be it.

They need to be masters of their own destiny in this regard, not have to dance to the tune of a, more than likely, overseas insurer.

Cheers,
Mac



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