To re-iterate: the insurance payout HAD to wait for 12 months to pass as MGX are covered for hits to their business for 1 year on top of the physical damage. That period had just passed at the time of the AGM.
Note that MGX received an interim insurance payout of $1.85M in July '15.(http://www.mtgibsoniron.com.au/wp-c...FY15-Financial-Results-Presentation-FINAL.pdf), so any angst towards the insurers is, in this case, misplaced.
AGM, page-21
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