Ann: MRG HMS - Major Infrastructure Boost to Mozambique, page-75

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barneydigs

6,666 Posts.

2065

12/08/20

21:22

Post #: 46494923
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Originally posted by earmelon: ↑

I am not afraid to admit I didn’t have enough knowledge on HMS, and I was ‘in love’ with the company believing 10c was the minimal target based on % grade and tonnage, that was the reason I didn’t sell when the price hit 3c!

it was 2ic’s detail explanations that made me have doubts over my original calculation, and then I did more comparisons with peers and realized that things are not as rosy as I initially thought. So when the 2c resistance was breach, thanks to the TA guys, I decided to dump all of my shares and options.

so yes, even though 2ic never recommended to buy MRQ, I am still grateful for the details technical explanations he provided which got me out, otherwise I would now be left holding the bag instead of multi folding that winning in the gold specs over the last few months...

the main point is, he has correct all along in his posts!

I always suspected the assemblage was not good enough, especially the zircon and rutile components.

i always had a doubt over the location and the transportation, never did I know the tenements surrounds the townships

i always thought if deposit 1 was good enough, then even if ours were a bit lower grade, we should still make it, yet I didn’t know the Deposit 1 are not steaming ahead and are looking for join venture to get it going.

I always thought 5-7% was high grade, until I did more research and realized that some Australian HMS projects have over 20% grade, and the assemblage are much better.

there are many other things which 2ic brought to my attention, and after doing more digging, I finally realize why Sofala decided to sell the project to MRQ for 2/3 of the original terms after stalling! There were no takers, industry experts already know it will never get developed!

sincere apologies for the long post, and if there is one thing I’ve learnt from this, it is to never fall in love with a story of a company unless you have the expertise!

good luck!

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I'm thinking along the same lines. I don't see any significant downside from here, and don't have any pressing need to sell so will hold for now. But unless things change significantly I plan to sell into the next 'good' announcement. Like everyone here who didn't, I wish I sold in the big rise 7 months ago. Oh well, am still learning....

MRQ Price at posting: 0.7¢ Sentiment: Hold Disclosure: Held
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