Breakout in chart looks very good for us now. Still only creeping up on low volume but that's not a bad thing. I still think this is following HIO's pattern.
when you consider that the two companies are only about 10-20ks apart you can see we have the same potential. Two different approaches to mining as HIO has a higher grade but needs to dig a lot deeper to get it, hence going for a mega mine startup in excess of $2 billion. MGT has a bigger resource but slightly lower grade and more impurities. However,the ability to mine from surface allows us to start a mine for less then $.5 billion and make money straight away.
the impurities and slightly lower grade is most likely due to it being near surface but I bet on our massive lease there would be similar quality ore at the depths HIO is Minning.
HIO already secured up to 10% funding or $200 million dollars with not too much effort, early in the BFS process. That sort of money would get us almost 1/2 a mine.
i can't imagine this company will struggle to get up and running and with a heavy hitting finance guy on board it is only a matter of when we get going.
happy to be ridding this one. I think we could see many bags from this one over the next few months.
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