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1.4¢ magnum mining and exploration limited

Ann: MGU Green Iron production strategy for development & growth, page-54

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stephenc678

243 Posts.

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24/08/21

12:17

Post #: 55525922
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Originally posted by Johnyb888: ↑

In fact there is no real mention about the 68% IO in this announcement. They now only seem to want to focus on the hi smelt. No clear indication about where they are going to get the funds from apart from mention they will work with Anglo, the same Anglo who seem to have pulled their 8Mil prepayment at the first sign of a retraction in the IO price?? And thereby nearly sinking this company??

Scrapping the DSO stage at this point in time seems like a complete over reaction. IO prices are still very healthy and I wouldn't at all be surprised to see the price not only stabilizing but possibly even move back up again later this year once the covid delta lockdowns are over.

That is unless they have a solid offer on the table to fully fund the hi smelt. In that case I can understand this course of action.

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I think it’s a good question, one of those that would ideally have been addressed in the updates.
From what I’ve understood they need to build the beneficiation plant (which would produce the 68% concentrate) in order to produce feedstock for the hismelt process.
I suspect when they talk DSO they only refer to the 62% and 65% products.

MGU Price at posting: 7.9¢ Sentiment: None Disclosure: Held
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(20min delay)
Last 1.4¢		Change 0.000(0.00%)		Mkt cap ! $11.33M

Open	High	Low	Value	Volume
1.4¢	1.4¢	1.4¢	$5K	357.1K

Buyers (Bids)

No.	Vol.	Price($)
3	960996	1.4¢

Sellers (Offers)

Price($)	Vol.	No.
1.5¢	720578	5

View Market Depth

No.	Vol.	Price($)
3	960996	0.014
12	1306887	0.013
8	1151937	0.012
4	451916	0.011
2	151000	0.010

Price($)	Vol.	No.
0.015	720578	5
0.016	333482	4
0.017	193769	2
0.018	339741	4
0.019	83176	1

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