I totally agree with every point you make, but possibly they are...

First 6 Last

Share
Profile

Follow
squanski

417 Posts.

63

21/02/21

19:01

Post #: 51195571
Share

Originally posted by sydneysider: ↑

On a technical basis MGV is a "falling knife" IMHO avoid until signals flash green. Was invested at 12 cents, rode into the highs. My sense is that the market expected too much, too soon, stock failed to JORC 1M ounces and trend turned bearish, got out between 60 cents and 40 cents via multiple sales. Then MGV management did a massive equity raise which IMHO has not been fully digested, causing the falling knife pattern. My sense is that MGV has lots of gold prospects BUT the individual lodes are on the thin side, so they need lots and lots of (expensive) drilling, typical lode is around a hundred thousand ounces. I asked MGV management if they would consider fast tracking some of individual lodes into development using contractors / selling ore to a local mill. Would have saved / made a ton of money and stopped the falling knife. Sold my position after I got a non-response. It always pays to ask the right questions. Good luck with your position, hope it turns around soon, maybe an uplift in the gold price (which may be underway on the COMEX) will help you.

Expand

I totally agree with every point you make, but possibly they are waiting for some hard evidence from the Evolution JV, which might indicate the direction that project is likely to take. I also agree with Fish, a fall of more than 50% could be a good place to start buying a company, which from its successful drilling campaign has obviously got some sort of future ahead of it.

MGV Price at posting: 32.0¢ Sentiment: Buy Disclosure: Held
5 Upvote

0 Great analysis

Reply

Top Stories

I88

Infini Resources onto Phase 2 at Portland Creek after spotting 'widespread uranium'

Trump chides Powell as Goldman call for calm. The RBA must be nervous

Week 27 Wrap: 40% China tariffs?; ASX +10% FY25; US Amazon price spike

OSL

OncoSil wraps up recruitment for key pancreatic cancer trial

THL

Tourism Holdings says Liberation Day tariffs smashed US RV demand

Listen: HotCopper Wire Podcast 016 – FY25 ended up not so bad... but Trump unpause is coming

DMP

Is Domino's a steal after -25% plunge?

KGD

Kula picks up unexplored niobium play in Malawi, with surface samples logged

NMG

New Murchison Gold blasts off at Crown Prince as 'better than expected' results return

HotCopper Highlights, Week 27: G8 scalped, Domino’s drops the box, Gemlife brief hype & more

First 6 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

I totally agree with every point you make, but possibly they are...

Top Stories

Infini Resources onto Phase 2 at Portland Creek after spotting 'widespread uranium'

Trump chides Powell as Goldman call for calm. The RBA must be nervous

Week 27 Wrap: 40% China tariffs?; ASX +10% FY25; US Amazon price spike

OncoSil wraps up recruitment for key pancreatic cancer trial

Tourism Holdings says Liberation Day tariffs smashed US RV demand

Listen: HotCopper Wire Podcast 016 – FY25 ended up not so bad... but Trump unpause is coming

Is Domino's a steal after -25% plunge?

Kula picks up unexplored niobium play in Malawi, with surface samples logged

New Murchison Gold blasts off at Crown Prince as 'better than expected' results return

HotCopper Highlights, Week 27: G8 scalped, Domino’s drops the box, Gemlife brief hype & more

Featured News