MGV has been steadily exploring the Cue area for some years with...

MGV has been steadily exploring the Cue area for some years with ongoing discovery. Over the past 18 months it has uncovered some shallow very high grade deposits and produced a JORC resource. They have since been discovering additional shallow very high grade. They also have a JV with EVN for about half the area (Lake Austin) and this is being actively explored. The grades are not high but the indications are that there could be a lot of gold in total as they start drilling the basement levels. EVN would not put money into this if they found the results to be unworthy.
I agree that with its currrent resource level, MGV is highly valued but an updated JORC result is on its way.
The SP got pushed up to an extreme level when the market was already excited about gold and they annnounced drill results like 54g/t at the White Light in June and prior to that at Starlight and then the POG went over US$2000/oz in August.
Shallow, very high grade deposits will translate to a low AISC and so I would not worry about the cost of mining.
Before too long they will produce a PFS (read the latest announcement dated 19/3/21).
I believe that MGV are in it for the long haul and apart from EVN they have also been supported by WGX. They are not the only explorer to keep drilling and proving a solid resource before moving into development (consider BRB). The financiers also expect that before committing many millions for development. Move too quickly and a company can be caught like the Emperor without clothes (witness GCY).

I could call you a lazy bugger for not reading the news items over the past few years yourself and finding the answers but it does me good to state the case and check the facts and so I forgive you.