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8.3¢ magmatic resources limited

Almost four weeks into this drilling campaign now and not a...

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knaomi

1,154 Posts.

185

13/10/23

10:00

Post #: 70323793
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Originally posted by Antipater_100: ↑

and yes, not short-term story either. short-term, we are edging towards recession and therefore copper prices will probably fall further.
but once Govs start printing on mass scale again and announce stimulus packages copper will move higher.
right now even gold is barely holding despite the never-ending printing (but not mass printing that is coming once we experience the next crisis).
Interestingly gold held very well considering how far interest rates went up. I thought POG will be around $1650usd actually. But hiking rates without ability to reign in printing is what's holding POG higher and will push it even higher.
Good part is this resource has some gold in it but it will be the copper price that will determine if it's economic or not. And for that MAG needs to discover about 9x more from where they are now.

Below the assumed hole locations that are testing the prospects as numbered. I think Adam may use the same platform to test prospect 1 & 2.

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Almost four weeks into this drilling campaign now and not a sniff of visuals and/or interest by the market. Are we looking at a repeat of the last lackluster results? When Adam starts putting out PR it's usually a bad sign IMO.

Last edited by knaomi: 13/10/23

MAG Price at posting: 5.7¢ Sentiment: Hold Disclosure: Held
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(20min delay)
Last 8.3¢		Change -0.002(2.35%)		Mkt cap ! $31.67M

Open	High	Low	Value	Volume
8.6¢	8.6¢	8.3¢	$36.34K	429.7K

Buyers (Bids)

No.	Vol.	Price($)
1	6200	8.2¢

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Price($)	Vol.	No.
8.7¢	10000	1

View Market Depth

No.	Vol.	Price($)
1	6200	0.082
2	62000	0.081
5	125022	0.080
1	10000	0.077
2	60000	0.075

Price($)	Vol.	No.
0.087	10000	1
0.099	88430	1
0.100	108763	3
0.105	10000	1
0.110	652360	10

Last trade - 15.49pm 27/05/2024 (20 minute delay)


Last 8.3¢			Change -0.002 ( 2.72 %)
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