MGT

2.63%

18.5¢ magnetite mines limited.

The people on this thread know better than the company and wont...

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Hans Brix

7,332 Posts.

171

08/12/22

17:19

Post #: 65225588
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Originally posted by OutResourced: ↑

Did you (and others) actually read the announcement or do any research?

From the announcement.

Many institutions we talk to are unable to invest in a company with so many shares outstanding and such a low volatile share price as a consequence. I know that a number of shareholders are concerned about the communication of the share consolidation and its impact on the share price. With my shareholder’s hat on, I share those concerns. But let me provide a perspective that may assist. Firstly, the share consolidation changes only the number of shares and does not change the Company’s assets, or the share of those assets owned by each shareholder. Your Board was provided expert advice by Ord Minnett before proceeding, and we took the view that we have a duty to focus on the long-term shareholder value uplift from transformation, and therefore it was the right choice to put this to shareholders for a decision, recommending that shareholders support us. I understand that a number of shareholders feel this change is unwelcome. We understand their viewpoint, but I do ask you to consider the long-term value it helps to unlock.

2 days is not LONG TERM. They were expecting this, saw it coming, and as indicated, knew there would be concerns. They have stated multiple times they are chasing LONG TERM VALUE not over night success. No one likes to see losses everyday but if you invested in the company 5 years ago or 5 months ago you did it (hopefully) based on fundamentals and long term prospects of getting to mining. If you invested for a get rich quick leading up to PFS or DFS then (sorry to say) bad luck, you made a poor decision.

I'm genuinely interested to know what others could have done better to progress the project?

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The people on this thread know better than the company and wont be told otherwise. Dont bother.

MGT Price at posting: 1.7¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 18.5¢		Change -0.005(2.63%)		Mkt cap ! $18.93M

Open	High	Low	Value	Volume
20.0¢	20.0¢	18.5¢	$25.32K	127.0K

Buyers (Bids)

No.	Vol.	Price($)
6	54545	18.5¢

Sellers (Offers)

Price($)	Vol.	No.
20.0¢	81434	2

View Market Depth

No.	Vol.	Price($)
6	54545	0.185
18	178404	0.180
6	73682	0.170
2	11200	0.165
1	70000	0.160

Price($)	Vol.	No.
0.200	81434	2
0.225	7000	1
0.230	114715	2
0.240	15000	1
0.250	3120	1

Last trade - 16.10pm 27/09/2024 (20 minute delay)

MGT (ASX) Chart

The people on this thread know better than the company and wont...

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