Hi folks, I have spent some time reflecting on the past few weeks during which my substantial equity in MGO has halved,
To the doomsayers and possibly shortens, I would like to point out a few really obvious facts that may cheer you up.
MGO last night finished on the Toronto stock exchange at 15 cents. This is a 20% increase on its current price on the ASX. The cr is in Canada, not Australia. The volume was fair at over 800,000 shares and they consistently sold at 15 cents , as they did the previous day.
I have invested previously in half baked companies where the sp has fallen when reality struck. MGO IS NOT ONE OF THESE HALF BAKED COMPANIES.
Let's have a reality check. In the past few months MGO has release two announcements that actually have something to do with their proposition as a company worth investing in. The first announcement was the resource update, which when you look at it was really good news and firmed up more than ever the prospects of the mine coming to fruition.
The second announcement was the appointment of a chief operating officer. Think about it folks. Read between the lines. Why would you possibly appoint a coo a couple of months before the DFS is released. I don't have to point out the obvious. Looks like a signal of absolute confidence. If the looming DFS was not favorable, they wouldn't need a coo.
in my view MGO has been driven down in a crappy market by a few retail investors on really low volumes. Absolutely nothing that is material to the company has occurred that would do anything but lift the price.
I accept the the cr would have been better executed, but this is a minor glitch of an administrative type that has nothing to do with the prospects of the mine itself.
MGO Is sitting on billions of pounds of copper in a era where this stuff is becoming like gold. In my view, MGO is red hot and the last few announcements only strengthen my resolve, belief and confidence in the company.
My view is this is an equinox in the making. Never been a better time to buy. Post cr I think this will surge. Those who buy at these ridiculous pumped down prices will make a killing.
My view only, but I think we need a reality check. A bad month on low voulumes means little in the long term. MGO has previously rallied from 6 cents to 42 cents in a short period of time, when it was more of a risk.
Think about it.
Hi folks, I have spent some time reflecting on the past few...
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