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
