My thoughts on the offer. The MRE was announced 31 May 2022 and the stage 1 PFS on 5 May 2023. A lot of drilling has been done since the MRE with the potential to add considerable ounces, and upgrade the inferred ounces. The latest from MGV , 23 May 2023, after the good results at Leviticus was: "Activities associated with delivery of a Stage 2 PFS for the Cue Gold Project are continuing. A significant amount of drilling has been undertaken to convert Inferred Resources to the higher confidence Indicated category on our high-grade Break of Day and White Heat deposits. This will lead into a Mineral Resource update in late 2023. The Stage 2 PFS will focus on adding mine life and further enhancing the attractive economics of the project." So the value of MGV should not be set by the stage 1 PFS but really needs to be set by the stage 2 PFS. I'm happy to wait for late 2023 unless someone makes a good case that they are offering stage 2 value.
MGV Price at posting:
30.5¢ Sentiment: Hold Disclosure: Held
