MGA

5.66%

5.0¢ metalsgrove mining ltd

well summarised mate. Agree with it all. Risk/reward at this...

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Jason4

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06/10/22

11:43

Post #: 64059261
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Originally posted by Wise_One: ↑

So many funny posts here from punters who don't really understand how stocks re-rate in a meaningful way

Last week's announcement said it could be part of the same system as GL1; GL1 is worth 400m and this was a catalyst for a meaningful re-rate in which THE ENTIRE REGISTER and then some was turned over at an average of say 22-24c

This means, anyone & everyone who wanted to exit from what was probably a failed IPO has done so given the turnover & all new entrants are there for the (in my opinion) ridiculous lithium potential

Volumes have now settled down again & the SP is around 20c

At 20c, MGA EV is 4m here... given there are 52m SOI & 6.6m cash (jun 4c)

The company has already said this in relation to it's lithium prospectively in the 27 Sept ann:

Also in that announcement, they said this:

This is currently the first week of October, so it seems like we are very very close to the next piece of news being "Heritage survey will be commencing first week of October 2022"

Much like the ridiculous re-rate of RAS which I rode (the ups & downs along the way) I feel this has every chance to replicate and the next catalyst could be a matter of days away

End of the day, we are 4m EV for what we have.

Also, now the initial flush & retrace has happened, I next the next run to go through higher highs, much like RAS did.

Lithium is pretty much the only thing running in this market given the tailwinds, so when this goes again, I expect mega volume again

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well summarised mate. Agree with it all. Risk/reward at this market cap is huge. Minimal risk at these levels with its cash backing. Picked some up today. You just get the feeling this could pop at any stage, seems to be building up nicely.

MGA Price at posting: 20.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 5.0¢		Change -0.003(5.66%)		Mkt cap ! $4.496M

Open	High	Low	Value	Volume
4.8¢	5.0¢	4.8¢	$1.604K	33K

Buyers (Bids)

No.	Vol.	Price($)
1	71397	5.3¢

Sellers (Offers)

Price($)	Vol.	No.
5.5¢	30900	1

View Market Depth

No.	Vol.	Price($)
1	29071	0.048
2	177000	0.045
1	100000	0.044
1	150000	0.043
1	50000	0.042

Price($)	Vol.	No.
0.055	30900	1
0.058	158525	1
0.061	25000	1
0.070	50000	1
0.072	145202	1

Last trade - 15.04pm 28/06/2024 (20 minute delay)

MGA (ASX) Chart

well summarised mate. Agree with it all. Risk/reward at this...

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well summarised mate. Agree with it all. Risk/reward at this...

Top Stories

Lithium Universe (ASX:LU7) board visits Quebec to engage key stakeholders

Wealth Within weighs in on shock 4% inflation read – and stocks that could survive the gloom

Larvotto identifies new exploration target at NSW's Hillgrove, boosting shares by nearly 20%

Silver Mines models five new calderas close to 396Moz Bowdens deposit

Recce's R327 found effective against E.coli during clinical trial

Microcap Wrap: 5 explorers with news out today

Ava Risk Group expands US presence with A$0.7M Substation Deal

Sun Silver gets that drill to thrill feeling from high grade hits at Maverick Spring

Week 26 Wrap: Cerberus of inflation barks – rents, electricity & fuel – and world watches two elders bicker

ChemX Materials kicks off first stage works at WA high purity alumina pilot

Featured News

Buyers (Bids)

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