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ggwill

2,786 Posts.

642

13/08/23

18:53

Post #: 69313734
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Originally posted by pygmyhipppo: ↑

I think they're doing all the right things and clearly know what they're doing, very methodical from auger to RC and then diamond coring the tails of the RC holes, but the very low market cap actually becomes a problem when raising even a few millions for the next drill campaign results in a considerable percentage dilution (raising $2.5 M at $12.5 M market cap = 20%) - this really impedes progress, in particular if raising at big discounts to VWAP. Much easier for a bigger company to drill the metres to grow a resource if you have $10 million in the kitty. A few spectacular drill hits of around 100 gram metres would be nice... say 20 metres at 5 g/t
or some good manganese grades at decent thickness.

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The market value was about the same when they did the IPO at 20c 5 years ago. Since the IPO, they raised ~$30 million and defined a resource and the market value is $12.7 million. A snapshot of the company, five years ago, shows a peak share price of 23.5c before any results came out from Napie.

MKG Price at posting: 2.2¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 0.9¢		Change 0.000(0.00%)		Mkt cap ! $8.784M

Open	High	Low	Value	Volume
0.9¢	0.9¢	0.9¢	$1.35K	150K

Buyers (Bids)

No.	Vol.	Price($)
2	10311721	0.9¢

Sellers (Offers)

Price($)	Vol.	No.
1.0¢	2202752	7

View Market Depth

No.	Vol.	Price($)
2	10311721	0.009
23	5831793	0.008
9	1854624	0.007
2	749950	0.006
1	300000	0.005

Price($)	Vol.	No.
0.010	2202752	7
0.011	1516356	4
0.012	150000	1
0.013	3292202	10
0.014	2861096	6

Last trade - 10.04am 05/07/2024 (20 minute delay)

MKG (ASX) Chart