2022 the year of MGU, page-86

You are right. Nothing has changed, and there lies the problem. Since scrapping the DSO and Anglo postponing any offtake or investment in MHU there hasn't been really much direction.

The share price has bounced between the low 6c range all the way to 11c orso.
I bought in at an average around 16c when we were supposed to be months from shipping DSO.

Offcourse it's not MGU's fault the IO price dropped. But the DSO phase was scrapped while the IO price was at a very healthy (and well above long term average) $130 USD. That was a nasty surprise since most had calculations a break even cost of under $100. The company has never clarified this or produced any reliable numbers even though we are now months further.

This seems unreasonable since they got very close to start shipping. Hard to believe they have no idea of costs.

Add to that the non commitment from our supposed partner Anglo and the complete lack of any figures in regards to the pig iron production (we have rely on the Rodney Hooper report, an outsider for any numbers...) simply add up to this being highly speculative.

I have held for some time, but apart from a good story there simply isn't much concrete.

If it works out this could be a real winner. But my trust in management isn't increasing I can tell you that. And that isn't due to the share price...It's due to lack of results, a clear direction and solid numbers.