Yeah saw that. Very interesting development. LCY is now valued at ~$225 mil with 29% interest after HMPL earn in is complete and the Mt Bevan project itself is valued at ~$750 mil. Mt Bevan has 1.1 bil tons of inferred resources at ~34% fe for ~408 mil tons concentrate. The project is not even at PFS stage and valued at $750 mil is just crazy.
Why would Gina want to go into Magnetite when she has plenty of DSO product? Simply because higher grade magnetite is the future of IO and she knows that.
MGT is already in advanced stage with fully funded DFS and a low cost producer in relative terms. Announcement of one offtake agreement would see this flying to ATH in no time.
Ann: Magnetite Mines Gains Access to Muster Dam Data, page-155
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Last
17.5¢ |
Change
0.005(2.94%) |
Mkt cap ! $20.18M | |||
| Open | High | Low | Value | Volume |
| 17.5¢ | 17.5¢ | 17.5¢ | $5.552K | 31.72K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 100000 | 17.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 17.5¢ | 175578 | 3 |
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| Last trade - 11.42am 21/10/2024 (20 minute delay) ? |
| MGT (ASX) Chart |