Bolat. Yep, understand where you are at. I have jumped too soon on other stocks from time to time, and unfortunately entry point is critical. And sometimes throwing more money at a problem (averaging down) doesn't always fix the problem.
Trying to be realistic about the possibilities, if MIN make a play for EGO it will be south of current valuations, else MIN's Board will be unable to defend themselves to their own shareholders. Hartley's latest guestimate is somewhere around 75-78 cent level, and that is before full de-risking of RGN1. Assume RGN1 comes in, and that valuation should be circa 85 cents. I would suggest that is a pretty good guide for the top end of MIN's average buy in price for full control.
Alternatively, MIN are passive investors. If this is the case then we need RGN1 to be ok, to drive the SP past that 45 cent mark. Once it does, then we will look to Q3 announcements (end of October in the WR) regrding future plans, farmins, fnding etc. If RGN1 is ok, this will boost farmin leverage, and we are off to the races.
So the way I would summarise the current position: sometime in September we will hear more regarding RGN1 plans, with commencement of remedation in October. I don't think we will get results until November, but this will "feel like a spud" in SP terms, and should therefore support the stock during October. Also in September we may see some work from MIN on their plans for the Board position, or their longer-term ambitions (through action on EGO). I don't see any announcements between now and November having a negative impact on the share price, so I think it is a reasonable punt at 34/35 cents per share (market cap $36.35 million) given the NTA, outlook, and long-term possibilities.
EGO Price at posting:
34.0¢ Sentiment: Buy Disclosure: Held
