Ann: Resignation of Director and Appendix 3z, page-28

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jimmymoggill

600 Posts.

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08/02/21

10:57

Post #: 50787977
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Originally posted by Buncher60: ↑

Fine rebuttal, but...

You are using information selectively, which is not helpful at all.

These are the facts:

MAG was listed on the ASX on 17 May 2017 at an issue price of 20 cents per share.

At some point the share price was so low as to give the 1000% increase on the current price that you have often used. I'm not sure when that was but it would have had to be at .015 cents which would also mean that it was a 1333% loss on the issue price.

According to the ASX data, the 52 week high has been 44 cents and the low has been 13 cents. That's a 70% drop.

The current drilling program has not yielded the expected results. It may in the future!

I, along with others as it now appears, thought the announcement on Christmas Eve was, at best, poorly timed, at worst, sneaky or even cynical.

The AGC spin off was a distraction. It has only been of limited value to MAG shareholders on the 5 for 36 free issue basis. Since the issue, the MAG share price has dropped from the 18 to 20 cents level to 15 cents.

On the face of it, Peter Duerden appeared to be too much involved in the AGC spin-off. At that point AGC had its own board and MD who should have handled the whole process so the Peter Duerden could be concentrating 100% on the exploration and drilling management of MAG.

I don't really give a toss about who PD associates with socially.

I am concerned with his credentials and past performance. You make the point that he led the team at ALK. But you have to remember the Boda discovery was not a PD discovery but a team exploration and drilling discovery.

I was concerned when I first looked at MAG of the fact that PD was only with SKY for 6 months before moving to MAG but ignored the point anyway.

Current drilling results have not yielded the expected Boda like discovery. As I've said above, they may in the future - anything is possible. FMG may have a 1000% increase in their share price if China suddenly buries the hatchet with Australia and it and India set on a major industrial expansion in the next 20 years.

What has been shown, is that the magmatic surveys have only a limited value in showing where a resource is.

In conclusion, your propensity to attack anyone that disagrees with your point of view by calling then trolls or such like is bully behavior and I ask that you refrain from doing that.

I am not entirely innocent on that point. I have attacked the "86's" in the past. History has proved that they were correct.

I welcome any dissenting view because it is helpful in weighing up my approach as to whether to stay or leave.

Anyone that has followed your postings which are becoming almost religiously fervorous, would be nervous right now because they are likely looking at paper losses and rightly questioning the wisdom of taking a position in MAG.

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well said Buncher60
A lot of people have lost paper wealth on their mag investment and I respect GB posts but it easy to be positive when your entry price was extremely low.

I had the option to buy Mag or Etherium and I chose Mag just because I believe in Gold long term.
the chart for both is like looking at a mirror.
let’s hope this time next year it’s a mirror opposite again for Mag.

MAG Price at posting: 15.5¢ Sentiment: Buy Disclosure: Held
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Ann: Resignation of Director and Appendix 3z, page-28

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Ann: Resignation of Director and Appendix 3z, page-28

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