Hi folks,Just going over the maths on MGO.The company has a...

Hi folks,

Just going over the maths on MGO.

The company has a market capitalisation of ~ A$81 million and has over $20 million in cash.


The most recent JORC compliant resource reported for MGO's 100% owned Yandera deposit are as follows:

Indicated Mineral Resource of 527 million tonnes @ 0.38% copper equivalent, for a mineral inventory of 1.49 million tonnes of contained copper and 122 million pounds of contained molybdenum; and

Inferred Mineral Resource of 766 million tonnes @ 0.33% copper equivalent, for a mineral inventory of 1.91 million tonnes of contained copper and 140 million pounds of contained molybdenum.

An Inferred Mineral Resource of 1.29 billion tonnes for by-product metals of gold, silver and rhenium (not included in copper equivalent) for a mineral inventory of 3.3 million ounces ounces of gold, 56 million ounces of silver and 2.9 million ounces of rhenium.


The above figures alone suggest MGO is seriously undervalued.

Without considering the soon to be updated JORC compliant resource, current resources demonstrate a project exceeding $30 billion worth of contained metal.

Given that only approximately 4% of MGO's ground holding has been explored, substantial upside may exist to further expand resources - hence the current drilling program at the Kombruku discovery.

The Quantum Group (George Soros) recently purchased 19.9% of the company, and the Sentinent Group increased its holding to 26.7% via involvement in a capital raising. They must be confident - particularly knowing that development funding will be sought in the new year, with construction and mining activities beginning thereafter.


I am interested in your feedback, modeling and sentiment. I intend on continuously updating my research, and informed opinions are appreciated.