"Priced as if the current drill program and future drill programs will all be absolute dusters."
Exactly my thoughts.
Does that mean if the next results are dusters, it'll go up, because it was priced in (negatively)? haha
At 10c, EV is $14M and Cash $7M + there's the 5.6M AGC shares too that MAG owns (worth ~$1M) - so EV is actually $13M.
Whoever is selling here has not got a clue about what they're doing.
Next results, if good then likely a big re-rate, if crap, then what? Nothing as it's already priced in for dusters as you say for all future drill programs?
Currently drilling AC/RC at 3 prospects so results from those will come after the Kingswood and SLR DD results.
Rose Hill DD drilling about to start and then we'll get results for that.
$7M+ cash, so "a bit more" drilling and results to follow after the above.
Cheers,
GB.
MAG Price at posting:
10.3¢ Sentiment: Buy Disclosure: Held
