Someone needs to check my figures and tell me if I'm wrong, but after performing a historical comparative analysis between MGO and OZL, I just can't understand or comprehend the current share price for MGO...
MGO with the Candian shares included, has 1,123,609,863 shares issued (assuming the Canadian CR closes OK) - in other words 1.12 B shares.
The MGO May 2012 share price: $0.18...
I mean, what am I missing here?
By any reasonable view of the above figures, had MGO posted the same resource stats back in 2005, its share price would be way way way above $10.00...
Yet, here we are at 18 cents... and with a "substantial" increase/upgrade in the Measured and Indicated resource due at any time now...
Either I have missed something pretty fundamental, or holders of MGO are sitting on a major share price bomb that can only go in one direction... UP.. and way way UP...
I look forward to any corrections...
good luck
MGO Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held