I feel like the IO price has had an impact but I dont know how much the failure to get the offtake with Anglo has put a selling pressure also. There was a sell down leading up to the announcement that also coincided with the IO price pull back, so how much was the IO price or was there any loose lips that the deal would not get done?
I cant see this staying at this price if the offtake gets signed. It didnt really sound like the deal wouldnt get done just will take longer to finalize. I cant seem to find any negative rumours creeping around that would indicate there is anything but IO price & extended offtake deal pulling this stock down. This company has everything falling into place and a different spin on the buisness model with the HiSmelt side off things.
As a rule I dont average down, It does cost me some profit on the ones that work but also mitigates my loses on the ones that dont. Normally I would hold until the deal gets signed thereby derisking the investment another notch before averaging up. I bought in at .15 & If this price keeps dropping to .10 or below I just might break my rule & scoop up another parcel.
Unless someone knows something I dont & there is more going on here.
If you do please enlighten me.
MGU Price at posting:
10.5¢ Sentiment: Hold Disclosure: Held
