Or $4.45M last week. The value of a speccy stock with near zero moulah and a volatile share price? Not much, is it? That's why it's a valueless deal - it's all done in scrip. The only condition the vendors wanted was to have 50% of the shares so they could dictate where the company was going and quash takeovers. They also wanted to not be lumbered with the graphite assets (which suck cash out of their gold play) so they rolled it into a new vehicle and will kick it off a cliff.
It's elementary Backdoor listing 101.
MGY Price at posting:
6.0¢ Sentiment: Hold Disclosure: Not Held
