I always knew the main focus of the upgrade was on increasing the measured resourse, but hoped for a surprise.
Certainly the most comprehensive report I've ever seen for a resourse upgrade and obviously intended for the DFS,( is this still on track for its previously announced timeline?)
Seems only retail investors reacted today and not that many. Those long on MGO would have expected similar grades to previous and would understand that it is cost per pound and the size of deposit, rather than % of CU, that makes for an economically viable mine.
IMO the instos are yet to react and perhaps someone suggested earlier, the big boys already know the MGO resource is massive and and may simple be waiting for the DFS or the placement results.
Oscar
MGO Price at posting:
18.0¢ Sentiment: Hold Disclosure: Held