Lools like it's going to get setup as a flag, I'd expect it to trade in the range of 0.7~1.2 while everyone who got in cheap as right at this moment it has 8 bagged in the last 3 months or so and we're all waiting on news.
Start of the pole is 0.3c and top of the last candle excluding the wick is 1.2c giving us a short term target of ~2.1c for the next wave if it plays out. (1.2 - 0.3 = 0.9, 0.9 + 1.2 = 2.1c)
They'll be wanting those 5c options in the money so with some good management and more media exposure on the project it can certainly get there IMO.
Long term I think we all know this thing is worthy of 10c+. Will take a few waves to get there as people lock in profits on it's way up.
Some good news about the farm-in agreement with BMD, the NextOre trial (both due very soon), news on how the SA government will be allocating part of the $10B of their magnetite strategic plan to the Braemer region, the PFS and subsequent commencement of phase 2 and whatever else MGT might have hiding up their sleeve will be the driving factors to get it really cranking.
GLTAH & DYOR!
MGT Chart
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Last
38.5¢ |
Change
-0.010(2.53%) |
Mkt cap ! $37.89M | |||
| Open | High | Low | Value | Volume |
| 38.5¢ | 41.0¢ | 38.5¢ | $71.63K | 181.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 18701 | 38.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 40.0¢ | 63571 | 2 |
View Market Depth
| Last trade - 16.10pm 16/05/2024 (20 minute delay) ? |
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Last
38.5¢ |
Change
-0.010 ( 1.28 %) |
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| Open | High | Low | Volume | ||
| 40.0¢ | 40.5¢ | 38.5¢ | 22684 | ||
| Last updated 15.42pm 16/05/2024 ? | |||||
| MGT (ASX) Chart |