A foreseeable acquisition is becoming more iminent as each day goes by. With current wars, new buildings are required why iron ore is increasing daily in price. It's possible the perceived management urgency in the need to acquire before valuations become too expensive.
On another note as have stated previously rates need to drop to see cash-flow back into equities. Seems like rates have peaked and the US are forecasting rate reduction early next year will bode well for equities.
Would be nice to see MGX back in the ASX 200 - I don't believe based on market cap is far off. At the moment the wide gap between the index and the share price is paramount which will contribute to a major share price hike if there is a sniff of reintroducing back into the index.
All looks good for MGX, anything is possible where the share price may end up considering the huge war chest is building nothing would surprise me. Hold tight!
MGX Price at posting:
56.5¢ Sentiment: Buy Disclosure: Held
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