MGT

1.85%

26.5¢ magnetite mines limited.

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

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Hans Brix

7,286 Posts.

167

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 26.5¢		Change -0.005(1.85%)		Mkt cap ! $26.08M

Open	High	Low	Value	Volume
27.0¢	27.5¢	26.5¢	$64.47K	241.3K

Buyers (Bids)

No.	Vol.	Price($)
1	10000	27.0¢

Sellers (Offers)

Price($)	Vol.	No.
28.0¢	25438	1

View Market Depth

No.	Vol.	Price($)
1	10000	0.270
1	19369	0.265
2	11538	0.260
2	12800	0.255
7	50883	0.250

Price($)	Vol.	No.
0.280	25438	1
0.290	34567	1
0.295	200000	1
0.320	285000	1
0.350	2000	1

Last trade - 15.51pm 28/06/2024 (20 minute delay)

MGT (ASX) Chart

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