Not necessarily will MGX need to make an aquisition . . . although as stated in the reports MGX is closely monitoring 5 juniors that MGX has a small stake of $3,000,000 in.
In older reports MGX stated they were monitoring 6 juniors . . . however MGX have never disclosed who those juniors are.
Was FEX one of those 6 juniors ? MGX is now the largest share holder in FEX with an option to substantially increase the holding.
In the FEX deal, a few months ago, MGX sold all mid west operatiins to FEX . . except Tallering Peak where MGX is currently drilling and have been drilling for some years but have never disclosed any drill results. Tallering Peak is a tennament well understood by MGX as Tallering Peak was MGX's first investment into mining, some 20 years ago.
MGX has stated they will continue to pursue a business in base metals. Tennaments surrounding our Tallering Peak tennament have recently been fruitful in exploration in base metals.
There is also Koolan South, a large tennament of several hundred square kilometres that MGX holds . . . again, no results of exploration there have ever been made public.
MGX Price at posting:
55.0¢ Sentiment: Buy Disclosure: Held
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