Current spot valuation 68c, page-10

Good try Auto. I assess mineral resources for a living and I can tell you there are any number of opportunities out there worth a look (I say that because you actually don't know until you've undertaken a full DD). Some are in production, others close to production, while others (possibly the best value) are pre-production. Last year there were over 96 deals done totaling $4.6B in transaction value; a historic low in deal making. No full idea how many of these are money generators, or indeed how many are actually at production stage.

Companies like Evolution Gold have been continuously acquiring gold resources and are happily minting cash (eg, Ernest Henry, Cowal, Phoenix.....). Even the orphaned coal mines that are being abandoned by the majors are doing very well if they're mining met coal.

Of course I cant guarantee there is no deal in the pipeline now, but wishing doesn't make it so. Two years on and still not the whiff of a deal. MGX are either super secretive (a real possibility) or have a poor project generation team (also a real possibility). Either way, shareholder pressure to do SOMETHING would not be wasted.

"Mining companies are like sharks: if they don't keep moving forward, they'll eventually die.", DFickling & D Winning, 2011.