Going after magnetite project at the time of depressed iron ore prices and elevated energy prices is equal to suicide. They currently hardly make any profit on 65% hematite from KI without any need for processing and long logistic/transporting etc. Secondly regarding Tallering Peak, if they've received any meaningful assay results from it they would be obliged to announce it to the market due to ASX continuous disclosure policy.
" What gave Peter Kerr the confidence in the February audio to state a "sizeable" investment that would make MGX "bigger and more profitable" ? " What consequences does he face for misleading the market. He has constantly being doing that with no consequences whatforever . The recent one on increased buyback comes to mind first etc etc.....
MGX Price at posting:
27.5¢ Sentiment: None Disclosure: Held
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