FFS the market amazes me sometimes. Lets break this down in very basis terms of how messed up the BMD deal was and how this announcement is great news for MGT:
- Per stage 1, BMD spent $5M for a 30% stake in MGT
- Per stage 2, BMD spend another $5M to get another 20% stake in MGT
Looking at stage 1 only, based on this morning's SP, a 30% stake was worth $8.4M. Based on close of trade SP, a 30% stake is worth $7M. And BMD was going to get this for $5M? Forget about stage 2 and BMD bending us over. Of course the BOD said thanks but no thanks. Separately, MGT is now fully funded for the PFS so no need for extra $ at super premium.
Once the market and the newbies understand the practical reality of this announcement, watch this go kaboom (to be clear, up!). I only wish i was more liquid.
AIMHO, DYOR and most importantly, GLTAH!
Ann: Razorback BMD Farm-in Will not Procced, page-47
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Mkt cap ! $26.08M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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| 1 | 10000 | 27.0¢ |
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| Price($) | Vol. | No. |
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