To add to what GB mentioned:
They raised $5M so are in a very healthy position.
They also have MAGO options that expire in May with an exercise price of 30c. It's an unknown at the moment but if these are in the money by May and are converted it has the potential to provide another + $5M to the kitty.
Also you mentioned a cash burn of approx $1M per annum. This should increase quite a bit as they get stuck into deep drilling, so it's good they are well funded at present.
To add to what GB mentioned:They raised $5M so are in a very...
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Last
10.5¢ |
Change
-0.005(4.55%) |
Mkt cap ! $40.07M | |||
| Open | High | Low | Value | Volume |
| 10.5¢ | 10.5¢ | 10.5¢ | $25.22K | 240.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 25000 | 10.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 10.5¢ | 72750 | 1 |
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| Last trade - 16.10pm 07/05/2024 (20 minute delay) ? |
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Last
10.5¢ |
Change
-0.005 ( 0.00 %) |
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| Open | High | Low | Volume | ||
| 10.5¢ | 10.5¢ | 10.5¢ | 90421 | ||
| Last updated 15.52pm 07/05/2024 ? | |||||
| MAG (ASX) Chart |