MGU

0.00%

1.1¢ magnum mining and exploration limited

My only problem is that it seems too good to be true, I have a...

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MrFaargs

2,833 Posts.

1629

26/07/24

23:33

Post #: 74940318
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Originally posted by dc1234: ↑

@MrFaargs

I agree with you. The risk/reward is good from here.
.
For me, 2 reasons. I have a lot of reasons not to be positive, but lets leave that for another day.
.
First, it looked like MGU may need a cap raise several months back. Neil has somehow avoided it, till now. So its a positive. If we can postpone salary etc, its a possibility. I was hoping he would have done that for last quarter, but the quarterly said otherwise - slightly disappointed in Mr Neil - if he feels he can get finance, no reason why didn't go for this path, or take salary in stock etc. So not happy with that quarterly..
.
Secondly, no adverse news on financing update - like cancelled/delayed etc.
.
So the bottom line is, if Mr Neil can somehow manage cash till October (or do something for 500k without diluting), and most importantly, get the raise in October. I feel if the raise can happen in October, there will be a significant change to MGU. My main issue is - when will we know, if its happening or not happening in October? If I were a long termer like many here, and which I do in some other stocks, I would take the risk and stick at least till that time, having come so close. But for some reason if that does not happen, I don't think we may see Mr Neil for long, unless he is desperate. Watching every day. Hoping something good happens here. But not accepting unless there is evidence. All the best.

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My only problem is that it seems too good to be true, I have a 1.6 average with about 80% of my intended allocation bought, if financing fails I'll be out immediately, but if it succeeds I wouldn't want to be on the outside watching the SP take off, especially given the fact that offtakes could very well be signed in this quarter

MGU Price at posting: 1.6¢ Sentiment: Hold Disclosure: Held
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Last 1.1¢		Change 0.000(0.00%)		Mkt cap ! $8.902M

Open	High	Low	Value	Volume
1.1¢	1.1¢	1.1¢	$8.8K	800K

Buyers (Bids)

No.	Vol.	Price($)
6	1091008	1.1¢

Sellers (Offers)

Price($)	Vol.	No.
1.2¢	83210	1

View Market Depth

No.	Vol.	Price($)
5	741008	0.011
11	1691778	0.010
6	1603311	0.009
6	1041300	0.008
2	311111	0.007

Price($)	Vol.	No.
0.012	83210	1
0.013	151423	1
0.014	1140071	5
0.015	541323	3
0.016	67241	1

Last trade - 15.43pm 04/10/2024 (20 minute delay)

MGU (ASX) Chart

My only problem is that it seems too good to be true, I have a...

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