I think a major concern for MGC is the current economic climate. There is a lot of talk now that we looking at another recession like 2008.
Bank of America sees a greater than 30% chance of a recession in the next year, based on recent data.
And this morning we will see a drop on the ASX due to the scare overnight in the US Market.
People want access to cash In those times so I think big buyers aren’t buying into companies like MGC currently.
I don’t know how a company like this would stand up if s**t was to hit the fan.
It would be a good time now for an update with Varm Cosmo as well.
MXC Price at posting:
5.2¢ Sentiment: Hold Disclosure: Held
