re: breakout from the current presentation:
there won't be a deal with Shougang announced. Both sides have issues with the deeds drawn up by previous mgx (ie pre Luke Tonkin) management. Negotiations will continue tho.
Luke didn't appear interested in banking the co. on a billio dollar project when 3/5 of the output was available in higher margin hemaetite on existing tenemants.
A range of options are being considered for the magnetite resource but the overwhelming priority is to bring forward the hemaetite rpoduction from Extension Hill asap. Dependant upon WA govt PER approvals (enviro). Target is too be producing 3mt from extension hill from Oct 07. This would give 6mt of direct ship hemaetite within 15 months.
lots more. I came away feeling even more confident about mgx than b4.
full notes later.
re: breakout from the current presentation:there won't be a deal...
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