MGT TAKEOVER?? TARGET 4B Tonnes iron ore
Ive been following MGT for some months now and have today regretted not buying at .002c when I put it on my watch list.
So today I kind of backed the truck in and loaded up.
Seriously undervalued and a contender for a takeover.
Having currently nearly 4B tonnes of ore with a low strip ratio this would have to be on the radar of numerous companies for a takeover IMO.
It certainly ticks all the boxes.
The Chinese, the Japanese and or the Koreans would have be be doing the numbers on this, which IMO would be fairly easy and primary school mathematics surely.
With current ore prices where they are Im sure the offer will be on the table very soon.
Even at 10/15c the stock is cheap IMO3.9 billion tonnes (JORC 2012) of iron ore
Over 110 kilometres of unexplored strike
1,722 km2 of surrounding tenements
100% owned by Magnetite Mines LimitedThe Razorback High Grade Iron Ore Concentrate Project is an iron ore project in the western portion of the Braemar and is wholly owned and operated by Magnetite Mines Limited.
The Project is 250 km northeast of Adelaide, South Australia and is located central to existing infrastructure.
The Project consists of three main ore bodies, Razorback is the primary deposit followed by Iron Peak and Ironback Hill. Together these deposits constitute 3.9 Billion Tonnes of JORC 2012 Inferred to Indicated resources (see ASX Announcements on 12/11/18 & 20/11/18).
Since 2009, Magnetite Mines has invested AUD $35 million in the project by carrying out over 52,000 metres of drilling, completing a positive pre-feasibility study, and subsequent optimisation of that study.
High tonnage iron ore mineralisation
Able to produce 68.8% Fe concentrates with low deleterious elements
Soft ore relative to traditional BIF magnetite mineralisation
Negligible overburden resulting in low strip ratio
Long-term Supply Security
Established and supportive mining jurisdiction
Located in a region rich in Infrastructure
MGT TAKEOVER?? TARGET 4B Tonnes iron oreIve been following MGT...
Add MGT (ASX) to my watchlist
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Last
26.0¢ |
Change
-0.005(1.89%) |
Mkt cap ! $25.59M | |||
| Open | High | Low | Value | Volume |
| 28.0¢ | 28.0¢ | 26.0¢ | $39.82K | 152.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 26773 | 26.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 27.5¢ | 7500 | 1 |
View Market Depth
| Last trade - 15.58pm 26/04/2024 (20 minute delay) ? |
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Last
26.0¢ |
Change
-0.005 ( 5.45 %) |
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| Open | High | Low | Volume | ||
| 27.5¢ | 28.0¢ | 26.0¢ | 17311 | ||
| Last updated 15.58pm 26/04/2024 ? | |||||
| MGT (ASX) Chart |