Assuming a restart of drilling at full pace in early October, at the cessation of the rainy season, and the stated cash burn of $1 million per month
MKG will need more funds in December 22 or January 23 to continue.
So I’m factoring in a capital raise before the Xmas /New Year hiatus ?
I’m expecting the CR to push the price down a bit from current levels , given that there will be a discount applied to attract institutional investors , and some selling in the immediate aftermath of the CR , as some investors divest.
And further share dilution is , of course, inevitable for the company to continue.
But the up side is an opportunity to buy , at cheap prices.
And likely MKG management will be spruiking heavily as well. Expecting much good news of exploration success in 2023 !!
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Mkt cap ! $8.879M |
Open | High | Low | Value | Volume |
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22 | 6216778 | 0.007 |
11 | 3160664 | 0.006 |
7 | 2809990 | 0.005 |
3 | 3100000 | 0.004 |
Price($) | Vol. | No. |
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0.010 | 2574449 | 9 |
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