Mate there is a current Share Purchase Plan which closes this Friday. It is pitched at 5.9 cents. So some shareholders have obviously been selling their current shares post the entitlement date at prices above 5.9 cents to buy their entitlement shares pocketing the difference. I would say why bother with such small margins but some people are funny.
So don't expect any solid movement upwards until the SPP closes. Then some shareholders might churn their cheap shares as the price rises, Pattersons clients are great churners, so that could put a cap on prices for a while. In the longer run it all depends on what the drilling program unearths. So far the drill bit has returned some promising results at Break of Day. We need more. The drilling program commenced on 23 July, first assay results later in August. Here's hoping
MGV Price at posting:
6.1¢ Sentiment: Buy Disclosure: Held
