You could be right.
This hovered around 6c for a decent amount of time around the time they should have been thinking about raising capital, around the time they had drilling going on and then assays in the pipeline to incentivise investors into taking part in a raise.
To be forced to do a cap raise at less than half that price, when sentiment is at an all time low would be an absolute kick in the teeth for investors and a massive strategic miss by the board.
Does MAG have a future based on boda drilling results and operating cash?, page-22
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