MGT magnetite mines limited.

1.18%

8.6¢

They were less than 1.5% away from a first strike...shots fired...

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GoldStar112

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29/11/21

21:04

Post #: 57945683
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Originally posted by 1912: ↑

@GoldStar112

I couldn't make it to the AGM either but in 40 years of investing I can't fully understnand what is going on here.

I have never seen such a large percentage of voters against two of the company directors who always seem to prefer to look after themselves by drawing such large salaries for a non income producing company ( almost $600k pa between them and it seems one only working part time and the other one having no qualifications ) and always voting for each other to receive a further heap of millions of share options with a long expiry term and cheap conversion prices .... and then I see the third director ( who does have 40 years of experience and qualifications ) received none .... why would this be ... can anyone advise ??

It seems too that IMO we will run out of money well before the DFS is completed and we will be hard pressed to be able to get funds from standard lenders with so many "rough figures and assumptions" used in the previous PFS ..... time will no doubt tell ....

The current iron ore price is well down from last year ( at US$95 per tonne last night ) so we will see what the next 6 - 12 months months show what the price will be and if it is any where near what the PFS used.

I hope the proposed DFS checks on the cost of production of circa $54pt based on 3-4m tonnes pa compared to say FMG who produce 170m tonnes pa at circa $15pt - they basically have no debt and even have their own ships etc.

Time will tell to see what happens ...

It seems a hard time is ahead of us in the current market place ....

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They were less than 1.5% away from a first strike...shots fired I reckon.

I suspect its the placement holders from earlier in the year - I think Peak was involved in it - they can't too happy about placing at 5.8c and being down more than 50%....that's why Mark Eames only got one Peak TV interview !
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(20min delay)
Last 8.6¢		Change 0.001(1.18%)		Mkt cap ! $10.43M

Open	High	Low	Value	Volume
8.8¢	8.8¢	8.6¢	$2.791K	31.77K

Buyers (Bids)

No.	Vol.	Price($)
3	54189	8.6¢

Sellers (Offers)

Price($)	Vol.	No.
9.0¢	259408	3

View Market Depth

No.	Vol.	Price($)
3	54189	0.086
2	57119	0.085
1	30000	0.083
1	36585	0.082
2	206600	0.081

Price($)	Vol.	No.
0.090	259408	3
0.092	100000	1
0.094	19800	1
0.095	6779	1
0.098	1200	1

Last trade - 15.48pm 25/07/2025 (20 minute delay)

MGT (ASX) Chart

They were less than 1.5% away from a first strike...shots fired...

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They were less than 1.5% away from a first strike...shots fired...

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