I think the big issue here is that many do not uderstand what has been announced or what the company is undertaking , ill admit i was a bit confused myself until i done ore digging .
The Scoping Study the other day would have thrown many off as we wer expecting results for a simple low cost DSO operation and what we got was the opposite , allbeit the results were very promising , i reckon punters would have seen the large Capex and just hit the sell button .
Now we still have a study due on the low cost DSO operation , if that study is in any way viable then the stock is a massive buy in my opinion .
We now have rail and transport costs so we can roughly run the numbers and to me it looks like it should be a green light .
Offtakes ahouldnt be a problem nor should finance as the cost should be minimal .
One thing i would realy like to see is some sort of a JV or a big name come on board , or someoen who will be there to support Magnum , the likes of Anglo , Nucor , or Mitsubishi etc etc , having a name like that on the register can really help change perspective on a company .
As another poster mentioed recently this isnt the first time we have been down this raod , Nasdaq listing , offtakes and DSO , we have heard it all before , so its time that management really get stuck in and get this over the line !!!.
One thing i will say though , its a bit of a different beast this time around , now we have the outcropping high grade ore we can target , and we also have potential high grade stockpiles which require more tests . Road rail and shipping should also be a lot cheaper this time around compared to when Dano was on board , Unfortunately Covid threw spanner in the works back in mid 2021 .
The next few weeks should be interesting , time for management to bring home the bacon .
MGU Price at posting:
3.8¢ Sentiment: Buy Disclosure: Held
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