Aquisitions have been spoken about in the quarterly reports and in presentation for years, from which I deduce the BoD are not anxious / panicking for an aquisition . . . but rather are orchestrating a carefully planned transition.
From the most recent audio presentation, an aquisition will happen this year.
Peter has also mentioned a possible lag time of up to 12 months to get an aquisition up and running (this 12 months would be supported whilst simultaneously running Koolan)
Besides an aquisition there has been a lot of work going on at our old Tallering Peak mine with the view of turning that into a project.
Peter has also referred to doing a project together with FEX. FEX is very active in acquisitions, with their most recent interest being to aquire CZR.
For some time it has been well known to juniors in the area that MGX has been cashed up, and such juniors have been approaching MGX with proposals (an example of such is in a misdirected email, possibly from Gold Valley).
MGX have stated their investment interest is in iron ore, bauxite, metallurgical coal, copper, lead zinc.
From what I can gather, MGX are lining up all the ducks for a smooth and cost effective transition . . . that is now just months away, not years.
MGX Price at posting:
32.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)