Totally agree, it's been a rough few months and some solid positive news is well due.
I've had the same thoughts too about that 'well before' comment. It was made when IO prices were still in the $170-$180 range and the full extent of the collapse hadn't been endured, so they were possibly still confident of securing 100% DSO offtake not long after, to stay within the proposed December production timeline.
That said, it did also include the pig iron first rights of refusal too and the pig iron samples are just being received this month. If they are sending some direct from pilot plant to Anglo it seems feasible they could finalize some offtake agreement within the exclusivity timeframe or very soon after. Would hope the time since delay was announced has also been used for firming up the financing aspects, whilst awaiting sample products.
It would certainly be in MGU's interests to finalize an Anglo pig iron offtake very soon in any case, to understand what volumes they have available for further discussions with domestic customers to formally begin, as soon as the exclusivity period with Anglo is over.
MGU Price at posting:
6.6¢ Sentiment: Buy Disclosure: Held
