Gotta love the Management of MAG, apart from owning a gazzilion...

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Green Bull

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10/09/19

11:28

Post #: 40366182
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Originally posted by Green Bull ↑

Hi All,

Not sure if everyone is aware but ALK made a "Discovery of Significant Porphyry Gold-Copper Mineralisation" per this morning's announcement (502m @ 0.48g/t gold, 0.20% copper from 211 metres).

As a result, neighbours immediately next to ALK's discovery (MAG & AQX) moved up (127% & 25%).

After today's move MAG still has a Market Cap of $4m.

It only got sold down recently on no volume and should be closer to its IPO price of 20c right now (imo) based on what it's got, rather then at the current 4.1c.

Directors and friends own most of the shares in MAG and they paid 20c at IPO and then 4c after that - so their avg price would be over 10c and hence why no one is selling (and not sure they would at 10c).

See some extracts per below but I would super highly recommend going through their presentation(s) and maybe quarterlies and see what they have.

They've been looking for a while to get some JV's with Majors on the NSW projects and should be close now surely.

Targeting millions and millions of ounces of gold and equivalent of Copper (see below image from presso).

Couple weeks ago they also announced that they will be mining gold in 6-12 months - funded by Ashley Fraser/Blue Cap (google Ashley Fraser) and profits then shared 50/50% from gold mining.

Cheers,

GB.

ps. thx to @john435 for the below map of the area around ALK discovery (MAG has 3 more projects in the area).

Links to some announcements:
Presentations:
https://www.asx.com.au/asxpdf/20180620/pdf/43vxhr948hpddz.pdf
https://www.asx.com.au/asxpdf/20190221/pdf/442twjj7sxpyfr.pdf
Quarterly:
https://www.asx.com.au/asxpdf/20190429/pdf/444mly7dc096rh.pdf
Gold mining + 50/50% profit share:
https://www.asx.com.au/asxpdf/20190826/pdf/447v9g1klyhfb1.pdf

ALK discovery ann:

View attachment 1727300

@john435 map:

View attachment 1727301

Massive Targets:

View attachment 1727302

JV's to be finalised:

View attachment 1727303

Funding by Blue Cap to gold mining & then 50/50% profit share:

View attachment 1727304

Expand

Gotta love the Management of MAG, apart from owning a gazzilion shares themselves, they are so quick and proactive.

They are NOT asleep at the wheel like some others.

Announcement just out in relation to ALK's discoveries and the implications for MAG's next door tenements.

ALK saying:

"can see clear evidence of Cadia-style mineralisation and grade over hundreds of metres"

"immediately prioritizing follow up drilling, seeking to determine the scale of this highly encouraging discovery"

What the heck?

Cadia is 48.7Moz Au + 6.5Mt Cu.

ALK and MAG in the thick of it.

As I said earlier, MAG should be 20c minimum without any further work OR

Can split it up into 6 different companies and each one would be cheap at the current market cap of $5m.

See how it goes.

Cheers,

GB.

XAO Value at posting: 6,734.0
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