I remember when I first bought into MGX back in 2009 during the GFC. Back then they had a mine life of less than 10 years from memory, and here we are 8 years later and they now have a remaining mine life of 5 years. So I think they have done a good job of maximising their reserve/resource over the journey. The difference between then and now though is they almost hit the wall due to the GFC related issues but now they have a big pile of cash sitting their waiting for the right opportunity. 5 years might not sound like much but my bet is it will end up being more than that and so they have time to find the right investment.
Cheers, Sharks
Ann: High Grade Koolan Island Ore Reserves Increase, page-6
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