Ann: Significant Lithium Potential Identified at Upper Coondina, page-115

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Wise_One

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07/10/22

10:28

Post #: 64079179
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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

Expand

This is beautiful price action & any traders who entered yesterday are being soaked under the 24c high

When that breaks this should attract a lot more volume & have a solid re-rate

The top-5 shareholders also own 53% of the company in this one, so the register of 53m shares is ridiculously tight

On any good news, this should be explosive.

Yesterday I put a screenshot of the imminent Lithium news that the company said is coming "first week of October" so should be any day now

Further to this, their rock chip samples should be received soon also!! (See below from 27 Sept ann)

MGA Price at posting: 23.0¢ Sentiment: Buy Disclosure: Held
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