This reserves statement highlights that the only way for management to get interest in this stock is to announce a clear pathway from a company with a resource almost exhausted to one with a future. We have seen "selling capitulation" over the past 8 weeks now, but a solid lift today.
They have been looking at other options and opportunities for quite some time now (has been a feature of quarterly statements and annual reports for the past couple of years). Ideally, we see an investment that moves MGX away from being captured by a single commodity and the volatility in the iron ore price.
With almost $500m of investment firepower, it is surely time for some announcements on how they propose to create shareholder value.
I am wondering if there is something in the wind given today's sudden uptick in demand for MGX stock.
MGX Price at posting:
29.8¢ Sentiment: Buy Disclosure: Held
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