MGU 8.33% 1.1¢ magnum mining and exploration limited

Collaboration in a green (steel) future the focus for Magnum and Saudi partners, page-77

  1. 496 Posts.
    lightbulb Created with Sketch. 214
    Buddy - MGU owned an Emerald mine from 2014 until 2022. It had nothing to do with Buena Vista until 2020 like I said. Don’t you understand the simple notion of buying something and then owning it from that point onwards?
    And the notion that prior to you owning something, someone else can own it?

    You can keep spouting the nonsense about RHM and MGU all being one and the same, but they were completely different owners, completely different entities, they are not MGU, MGU is not them. Attributing their actions or inactions to MGU is just dumb and I think you know it because your response was pathetically very personal against me for no particular reason, other than that I pointed out your obvious and repeated inaccuracy on this matter.

    Also you may notice that if you actually did some research, there was a major crash in iron ore prices which prevented Richmond from getting to production around the time they had planned to. The low prices persisted for the next 5-6 years during which time they sold the project and there was no incentive for anyone else to progress things due to the low iron ore price.

    When MGU actually bought the project in 2020, iron ore prices were rapidly increasing and Dano was working to getting into production and the price dramatically crashed again. Maybe you can understand why projects struggle to get up and running in very low price environments, if not suggest you google capital investment analysis and capital financing to upskill a little.
    Last edited by RMInvest: 02/09/24
 
watchlist Created with Sketch. Add MGU (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.