speaking of the share price, I think I need to re-evaluate my earlier statement, support at 1.2-1.3c is indeed building, but resistance of 1.5-1.6c is far too conservative. I think we will see interchanges between growth periods and accumulation over the coming months. The nextOre trial is definitely a catalyst for short-term growth, but as others have said, the federal budget news and iron ore price forecasts are also very positive drivers.
I think we will form a new base around 2c in the short term, without announcements, a re-rate that is pricing in that PFS is funded and that this stage of development has been derisked. I think that announcements and positive steps towards PFS will bring us up to 3-4c before the PFS results are officially released and may be driven by:
- nextOre trial results
- announcements informing shareholders of progress towards PFS
- joint venture agreements for DFS/BFS
with this last point, I think it may involve negotiation with BMD for a better deal that better reflects our market cap and future prospects, and support from the market, and it may also involve offers from other companies. IMO DYOR
MGT share price, page-185
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Last
26.5¢ |
Change
-0.005(1.85%) |
Mkt cap ! $26.08M | |||
| Open | High | Low | Value | Volume |
| 27.0¢ | 27.5¢ | 26.5¢ | $64.47K | 241.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10000 | 27.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 28.0¢ | 25438 | 1 |
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| Last trade - 15.51pm 28/06/2024 (20 minute delay) ? |
| MGT (ASX) Chart |