I'm sorry that I have not replied sooner.
Thank you to those taking the time to respond.
My car is now running properly again after I had a genuine Bosch alternator fitted.
Mitsubishi Magna & Verada V6 (6G72 & 6G74). Mitsubishi Verada KE, 1996-1997. Mitsubishi Magna TJ, 2000-2002. Mitsubishi Magna TF, 1996-1999. Mitsubishi Magna TW, 2004-2005. Mitsubishi Magna TE, 1996-1997.
www.ebay.com.au
In the meantime, I had to get by just by "jumping"/recharging/only driving short distances.
I did not want to risk driving further than the local small town and risk the battery going flat between towns.
The multimeter now reads 14.7v at idle.
No other work(fuses/relays/check/adjust drive belt - all OK) was done.
Starts/runs fine for the last week, after being off the road for almost a month as it was difficult to:
a. Get the genuine part at the "right" price,
b. Have it delivered to my non-urban address,
c. Have the extremely busy local(competent/honest) mechanic have the time to fit me in.
1 hour labour charge = $120 AUD.
My question is why the alternator warning light did not illuminate from the beginning of my problem?
It took 2 weeks or more of the battery going flat before it started glowing continuously when the engine was on.
A brand new alternator fixed the problem, so I am wondering why the alternator light did not start illuminating right from the beginning of problems.
Thank you again to those who responded.
P.S. I did not get around to doing any voltage drop tests, or try to delve too much into problem solving.
I just went and had the complete alternator swapped out, and it has turned out to be the correct solution