MGT 11.1% 12.0¢ magnetite mines limited.

I have also compared these ranges to historic data, but drew a...

  1. 2,694 Posts.
    lightbulb Created with Sketch. 1756
    I have also compared these ranges to historic data, but drew a conclusion that really only the 2016-18 years LT resistance was applicable as previous ranges to this were traded as a different company (ROY) and the dillutionary effects being less significant in the more recent years. Although one could argue that this time period is consistent to the 2013-2016 years for the same reasons.

    This is probably why when we smashed that 5.2-5.5c LT resistance at ATH (under the MGT ticker) our rerate blew ROY 2013 PFS levels out of the water as we are essentially in uncharted territory trading as MGT with significantly improved fundamentals compared to then.

    IMO we will set new sup/res here on out, based on the company we are today, that may differ from or exceed SP ranges from 10+years ago for obvious reasons.
    Like good ol' WB quoted "if past performance was the only thing needed to capitalise on the markets, the richest people would be librarians."

    Personally I believe anywhere up to $280mil MC (10c) is a fair quantitative value in relation to our fundamentals and resources at pre PFS stages of the project. If we exceed this prior to PFS i would be inclined to think speculative growth was in effect and price was factoring in future news which can be dangerous if reality doesn't meet expectations but catalytic if it exceeds them.

    Sorry no chart atm, my son was born today so kinda had my hands full but ill throw something up when I have a chance, I will point out we are looking very bullish right now with the amount of volume bought above 7c and some big support levels set on higher lows this week, lots of bullish indicators going off as well.

    Not financial advice just observations and opinions.
    Always IMO DYOR GLTASH

 
watchlist Created with Sketch. Add MGT (ASX) to my watchlist
(20min delay)
Last
12.0¢
Change
-0.015(11.1%)
Mkt cap ! $13.84M
Open High Low Value Volume
13.5¢ 13.5¢ 12.0¢ $37.22K 290.0K

Buyers (Bids)

No. Vol. Price($)
5 87498 12.0¢
 

Sellers (Offers)

Price($) Vol. No.
14.0¢ 4369 2
View Market Depth
Last trade - 16.10pm 12/11/2024 (20 minute delay) ?
MGT (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.