Ann: Renounceable Rights Issue to raise up to $15.8M, page-227

Looking from a fundamental perspective I can not find a minor explorer more likely to become a operating mine (producer) than MGT. Other explorers in this space seem to be better marketing companies than miners... Why would you waste money on trade marks at this early stage (Super Grade)? Knowing the cost to refine from 68% to 70% has been found to be of diminishing returns???
Lots of talk on here referring to our expected startup cost of $500 -$600m comparing to HIO at $2 billion. Please note the estimate of $2 billion was for a processing plant of 10mtpa and a 60km slurry pipe, the BFS has now doubled to 20 mtpa and now requires a slurry pipe of approximately 450kms. This is likely to increase total cost to around $5-$6 billion... Good luck with that... $200 million represents less than 5% of the cash needed.
Let's talk water, MGT needs approximately 5 G/litres for 3mtpa production which will be recycled. Consider how much water will be needed to process 20mtpa and then more water to produce a slurry to pump 450kms. Study fluid dynamics and calculate the total power required.... Their low "ALL IN" mining cost has just been blown out of the water yet many seem not to notice... Victoria is required to allow a minimum of 450G/litres to flow down the Murray River for Adelaide's use. How much water will HIO need??? No chance of using ground water, no state government will allow it...
People buy shares on hype. The estimated SP of HIO has got many excited but if HIO does not reach production the estimated SP will never be achieved. This is the real gamble holding HIO shares. No production = $0 share price...
I have spent most of my career in the extractive industry and look at junior miners from a different perspective than most. I sold my holding of HIO on the last announcement when the BFS change to what i consider to be an unachievable pipe dream...
Personally and with my experience, I can not find another junior miner that stacks up better that MGT. I do not use MGT as trading stock, for me this stock adds to my early retirement plan. Long term plan, hold millions of shares and wait for dividends for retirement income... Again this only works if we (MGT) become a producer, I personally have no doubt this will happen.
Best of Luck to all investors regardless of their personal investment strategies...