MAG 2.74% 7.1¢ magmatic resources limited

MAG Chart, page-460

  1. 5,684 Posts.
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    Volume is probably anything but irrelevant, based on MAG's normal volumes, and not comparing to BHP!

    Today's MAG volume is one of the highest in the last 12 months, and there very only a handful or days with higher volume than today.

    5 straight days of gains, so someone is excited.

    Before the green days, there were 2 red days in a row which decreased the share price by about 16%, and that was on volume that was about 10% of today's volume (ie. super low volume, worth only a few thousand dollars).

    So, volume, especially today is "through the roof", and likely not even higher only due to barely anyone selling - pretty much the opposite to when it was going downwards.

    Anyway, whatever the reason for the buying, it's a welcome relief for us, and I'm sure for the company in improving their negotiating power with any potential partners, and also it's increasing the vwap and CR price if they did go down the CR route if a deal can't be reached in time.

    Also, share price was 14.5c not long ago, and there has been no dilution since then, and we have had a resource estimate announced since then plus more drilling too (and some silence from the company too, but hopefully ends up worth it, via a (good) deal being struck).

    Cheers,

    GB.
 
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Last
7.1¢
Change
-0.002(2.74%)
Mkt cap ! $29.61M
Open High Low Value Volume
7.3¢ 8.0¢ 6.8¢ $53.19K 720.6K

Buyers (Bids)

No. Vol. Price($)
1 82 7.2¢
 

Sellers (Offers)

Price($) Vol. No.
7.5¢ 100000 1
View Market Depth
Last trade - 15.32pm 07/06/2024 (20 minute delay) ?
Last
7.2¢
  Change
-0.002 ( 2.70 %)
Open High Low Volume
7.9¢ 7.9¢ 7.1¢ 254160
Last updated 15.58pm 07/06/2024 ?
MAG (ASX) Chart
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