Ann: $10 Million Capital Raising to Progress Cue Project, page-9

The saying "grade is king" has misled many with MGV. Grade is only king when there is sufficient quantity and accessibility to produce an economic mine. MGV has not managed to do that yet (with or without toll processing) but has a high EV to Resource value (pre-issue) of $114.5/oz which is very high for an explorer with less than 1 Moz and no economic study with less than 50% at Indicated status.
Although a non-holder now-a-days, after selling out in June, I have owned previously since 2017 and endured many ups and downs.
The company has been very slow to make progress and is now paying the price of that by seeking funds during a depressed gold company market with a consequent depressed offer price and dilution.
Is it time to buy back again? I prefer to wait for the PFS and updated MRE before making that decision, particularly in view of the likely global recession being called by a growing number of pundits.
Of course, the other way of looking at MGV, is as a buy-out play. However, shallow but narrow deposits with high grade that do not provide much scope for continuing discovery at depth do not encourage long term investment, although the high yield discoveries may be useful inputs for existing nearby operations.
Best fortune to all holders. I am not calling this a dog, just as I am not calling it a star.