LMG 0.00% 3.2¢ latrobe magnesium limited

I don't often get excited at small caps but this one was too...

  1. 50 Posts.
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    I don't often get excited at small caps but this one was too good to ignore. Last time I felt this potential was when I came across a company called Afterpay a few years back.
    This company has too much going for it to ignore.
    * Magnesium in short supply;
    * 85% odd of world supply coming from one source which cannot be relied upon (China);
    * management budgets appear to be conservative for prices for MAG at $3,000/tonne versus current $8,000/tonne (however as CEO David Patterson has stated, they don't expect MAG prices to remain this high);
    * LMG's process cleans the environment by removing brown coal fire ash which can cause silicosis - this will get the eye of ESG investors which is all the rage at the moment;
    * LMG have patented their process in countries around the world where brown coal fire ash exists. MASSIVE!!

    And yet LMG has a market cap of around $150mill??

    Financial reasons aside, I can't understand why one would sell at these prices.

    There's this thing called the "Efficient market Hypothesis" ie the market value of a company is based on all available public information. At $150mill, something is wrong with the market.

    Good luck all fellow LMG investors.

 
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Last
3.2¢
Change
0.000(0.00%)
Mkt cap ! $75.15M
Open High Low Value Volume
3.3¢ 3.4¢ 3.2¢ $35.33K 1.073M

Buyers (Bids)

No. Vol. Price($)
10 2357571 3.2¢
 

Sellers (Offers)

Price($) Vol. No.
3.4¢ 199478 1
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Last trade - 16.10pm 05/09/2024 (20 minute delay) ?
LMG (ASX) Chart
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