Been watching this one for a while now and although Peppinini had some success in the Musgrave province, it's relatively unexplored so they don't seem to be attracting much attention.
They recently released a bit of stock from escrow which may explain the dip in price, however companies rarely trade this far below cash backing for long, particularly when they've got assays from 2 separate drilling campaigns due.
$15m cash with a MC of $11m at current prices. Now that a little uncertainty is creeping it's way back into the markets, cash is king and these guys have plenty of it.
Not suggesting it's going to rocket, but at these prices you would have to think it represents a fairly low risk entry.
Marchello
MGV Price at posting:
8.7¢ Sentiment: None Disclosure: Held
