Over $6M cash at bank plus $8M from Anglo. Enough cash to get them to start shipping ore late this year. They also have been approached for funding which according to their announcement have rejected them. Does that tell you something?
They plan to ship later this year a min 40,000 tonnes per month at US$220 per tonne which is US$8.8M per month revenue (over US$100M pa).
......and we are at only $70M market cap. Even a multiple of 3 times we should be at $300M market cap not $70m.
The biggest risk is when they announce their first shipment and everyone realises it is happening and the stock pops up and you miss out. I am buying more today!
Do the maths.....
Add MGU (ASX) to my watchlist
 (20min delay)
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Last
1.4¢ |
Change
0.001(7.69%) |
Mkt cap ! $11.33M | |||
| Open | High | Low | Value | Volume |
| 1.3¢ | 1.4¢ | 1.3¢ | $7.342K | 524.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 1152418 | 1.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.5¢ | 161240 | 2 |
View Market Depth
| Last trade - 15.15pm 29/04/2024 (20 minute delay) ? |
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Last
1.3¢ |
Change
0.001 ( 0.00 %) |
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| Open | High | Low | Volume | ||
| 1.4¢ | 1.4¢ | 1.3¢ | 169231 | ||
| Last updated 15.25pm 29/04/2024 ? | |||||
| MGU (ASX) Chart |