MGT

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14.5¢ magnetite mines limited.

AGM questions, page-42

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Orey7895

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23/11/22

12:51

Post #: 64940592
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Originally posted by KiiDaka: ↑

Room was pretty empty, I think there were about 3 shareholders aside from me that attended. The rest of the people in the room were representative or guests or something?

basic what I took from it- read between the lines.
I can see we likely have in principle funding offers but to protect company interests have not made any formal agreements (hold your cards close to your chest)

I'd like to do my research about old Mal Randall.

I don't really like Gemma, she tends to talk over you to push her agenda. but that is just a personal thing.

Simon seems to be a great person to have aboard I'm going to look into him a bit more.
Tim dobson also seems to be a competent skipper to drive the ship. After attendance I feel more confident with this. I saw him doing a final preparation of his notes before the meeting.

not happy about losing money / with consolidation and options etc. but we need to pay everyone effectively if this is going to get off the ground and the company needs to be investable. swings of %5+ per price movement doesn't support this.

would be good to see more engagement in the meetings
but I didn't stick around for the coffee.

I tried to stress to Gemma that we just want to hear a few more things about how it is progressing.

what was interesting was a mention of India, europe and Canada.

I'll be topping up after consolidation. I see Christmas and newyear period to be rough with info flowing Feb, March.

My gut tells me they have funding but need to choose which suits company best. Next year Q1 I see go forward being answered. Q2 and Q3 funding and permitting.

In summary, don't expect this to pay for Christmas. I'll be monitoring announcements but I don't expect to realistically get excited about this project till this time next year. lets see what Tim can deliver in that time. It will be an important deliverable in my opinion for him to market well enough to get the share price within coo ee of options strike price.
Management seem approachable and experienced.

My only concern is this quote from someone at my work, not a quote towards MGT but related to a project I am working on. "Consultants make their money from billable hours, it is not in their interest to deliever a project."
Hope we are not being taken for a ride, if they deliever this will be life changing, but unfortunately likely need to keep investing a bit more capital to keep and or increase position.

All my opinion thoughts and not advice. Goodluck to all holders, see you next year.

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Did they mentions option at all in regards to hitting the strike price ?

MGT Price at posting: 1.7¢ Sentiment: Hold Disclosure: Held
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AGM questions, page-42

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