my chip was waiting at 4.9c, but sp close at 5.9c. the company has cash $1.4, and share at egz valued at $2.7m, so $4m in current asset,plus their rents and interest offset the admin and drilling costs (they dont do much anyway). egz feasibility will be out before Christmas for funding and production in near future.
I think what will happen in the near future is: 1. a feasible feasiblity study will take us to above 10c at least. 2. we will sell more ownership in exchange of egz's share when they start cap raising for production. 3. at some stage, they will ask for more land from us.
i dont think anything will go wrong at this stage until country's election mid next year.
MGY Price at posting:
5.9¢ Sentiment: Buy Disclosure: Held