MGT

16.7%

31.5¢ magnetite mines limited.

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Realinvestor1

936 Posts.

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02/03/21

06:57

Post #: 51436662
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Originally posted by Stocki: ↑

Ok so after todays price rape lolz (upwards) finally i have managed to read the full announcement. Combining with some points from my early post, here are few highlights;

1. Extra resource 1.5BT

2. Free tenement with 100% interest.

3. Fe grade 69.8%

4. No consideration is payable atm.

5. Total cost of project evaluation is $3.4M over 2 years. (Can be provided by SA Govt in my view).

6. Some existing synergies at razorback can be applied straightaway for initial assessment. (Peter Schubert).

7. Endorsement of the management by department of energy and mine through (competetive application process).

8. Shows Razorback must have progressed in a very positive way, leaving department with no other option but to grant MD project to our management.

9. Recognition of our high experienced and skillful team by the department so they have decided to use the skills and experience if the team at MD while developing RB.

10. Quote" Based on limited data provided to date, Magnetite Mines Limited believes the reliability of the estimate to conform to the JORC 2004 code with appropriate experienced Competent Persons Mr Simon Tear (external consultant with Hellman and Schofield Pty Ltd (H&S)) and Dr Antonio Belperio (director and geological consultant of Minotaur Exploration Ltd.) originally taking responsibility for the Mineral Resources and Exploration Results respectively".

11. Dr Antonio Belperio represents an accurate representation of the available data. Dr Belperio is a Fellow of the Australian Institute of Mining and Metallurgy and a director and geological consultant of Minotaur Exploration Ltd.

12. The information in this report that relates to Mineral Resources is based on information evaluated by Mr Simon Tear, who is a Member of The Australasian Institute of Mining and Metallurgy (MAusIMM).

13. Magnetite Mines has assembled an extremely talented team of experts to deliver the Razorback Pre-Feasibility Study, and there are many overlapping synergies that can be immediately and advantageously applied to the Muster Dam Iron Project. (Peter Schubert).

Huge news IMO. Simply unbelievable. Look at the profile of these people. As i said before we must have already done some great work at Razorbacks PFS forcing them to grant this idle tenement to MGT. Great great effort by Peter Schubert and his team.

i have talked to the management today. Assuring you they are working extremely hard atm. Just my few cents but make sure you do your own research.

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Can I just tell you both are brilliant in your analysis and providing the HC community up to date information. We all are forever grateful for sharing the insight of the company and helping the fellow investors to make informed decision.
Also thanks for sharing the info that you receive from management. That’s brilliant.
Any SH can get in touch with management any time but personally I would prefer only few people do that and share the update here. They must have been super super busy pulling through these sorts of deals. I know they don’t have a separate investors relations area as the administration team is still small. That’s just my view though.

MGT Price at posting: 3.3¢ Sentiment: Buy Disclosure: Held
13 Upvote

0 Great analysis

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(20min delay)
Last 31.5¢		Change 0.045(16.7%)		Mkt cap ! $31.00M

Open	High	Low	Value	Volume
27.5¢	31.5¢	27.0¢	$149.6K	518.9K

Buyers (Bids)

No.	Vol.	Price($)
2	5000	30.0¢

Sellers (Offers)

Price($)	Vol.	No.
31.5¢	33790	2

View Market Depth

No.	Vol.	Price($)
2	5000	0.300
1	9000	0.295
1	2000	0.285
1	45000	0.280
5	30073	0.270

Price($)	Vol.	No.
0.315	33333	1
0.320	20000	1
0.330	6000	1
0.340	5309	1
0.400	1600	1

Last trade - 16.10pm 03/05/2024 (20 minute delay)


Last 31.5¢		Change 0.045 ( 18.9 %)
Open	High	Low	Volume
27.5¢	31.5¢	27.5¢	45119
Last updated 15.56pm 03/05/2024 ?

MGT (ASX) Chart

MGT share price, page-2545

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