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Ann: MRG HMS Update - Aircore Drill Program, page-12

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Wado777

1,317 Posts.

669

02/08/19

11:53

Post #: 39829297
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Originally posted by cashken: ↑

If you are thinking of timing an entry, it may be useful to consider page 7 of the MRQ announcement on the 23rd January 2019.

The vendors have been paid 90m MRQ shares and 90m MRQOBs for selling the asset. However, these are in escrow for 12 months. So no imminent offload there.

The vendors also receive 160m shares on the completion of a JORC resource estimation. These also are in escrow; for three months. Again, no imminent offload there one would expect.

The big prize for the vendors is proceeding to a PFS if economics are attractive - 360 million shares. But again, 240 million of these shares will be in escrow until MRQ achieves a market cap of greater than $100 million dollars!

So... with a mineral resource estimation taking two months - according to the presentation calendar - in combination with this 51 hole drilling to start in days, my clue is that the vendors are in a hurry to achieve these timelines.

So when do you enter?

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Thanks for the replies and thanks for not assuming I'm down ramping here far from it. This is an exciting company I have mistimed entry on small caps before so obviously want to try and get it right. Hopefully I don't massively mess this up hey?!

MRQ Price at posting: 0.8¢ Sentiment: None Disclosure: Not Held
5 Upvote

0 Great analysis

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