MAG 0.00% 5.7¢ magmatic resources limited

he is going for more porphyry targets again. deep drilling and...

  1. 7,684 Posts.
    lightbulb Created with Sketch. 1446
    he is going for more porphyry targets again. deep drilling and fast burning of cash.
    not saying the strategy will not work but when the cash is low then it is risky. at this stage he is only proposing AC and RC but eventually will have to go for diamond holes.
    I thought he will test Parkes area and perhaps Roselawn with RC holes. I guess if he does not hit anything interesting with the AC and RC holes at Lady Ilse and Rose Hill then he may not attempt diamond holes.

    But if MAG drills RC holes at Lady Ilse and Rose Hill then why not 2x 300m RC holes at Roselawn - fishing holes.

    Having said that, I still like both Rose Hill and Lady Ilse. I don' think previous MD explored them properly. He did drill few extra holes at Lady Ilse which I found interesting as he tested different hole orientation which will help Adam to eliminate couple of scenarios. So in that regard the Adam has some help.
 
watchlist Created with Sketch. Add MAG (ASX) to my watchlist
(20min delay)
Last
5.7¢
Change
0.000(0.00%)
Mkt cap ! $23.77M
Open High Low Value Volume
0.0¢ 0.0¢ 0.0¢ $0 0

Buyers (Bids)

No. Vol. Price($)
2 25181 5.7¢
 

Sellers (Offers)

Price($) Vol. No.
6.3¢ 16409 1
View Market Depth
Last trade - 16.12pm 27/06/2024 (20 minute delay) ?
MAG (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.