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MAG: Closed up another 33% today - hopefully some jumped on and...

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Green Bull

5,662 Posts.

7906

16/09/19

22:51

Post #: 40443980
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Originally posted by Green Bull ↑

Hi All,

MAG:

For those unaware:

ALK Chairman bought a lazy $1M+ worth of ALK on-market, last week after their discovery news next door to MAG.

ALK ended up 55% or $100m+ higher Market Cap last week after its discovery announcement.

MAG right next door.

View attachment 1733966

MAG in brown and ALK in yellow:

View attachment 1733968

Also MAG Management has been negotiating a great JV for the Company for a while now.

From Friday's ann Management revealed that they:

They received a JV offer 5mths ago from:

A $23B Market Cap Major;

For $10M spend;

For up to 51% of 2 projects.

MAG rejected it as knew could get better for the Company and shareholders.

After ALK's discovery, etc;

I'd expect now each JV to fetch $10M minimum - and the JV's are due any time?!

Cheers,

GB.

April 2019 JV which was rejected:

View attachment 1733972

From quarterly re; multiple JV's being negotiated:

View attachment 1733976

Expand

MAG:

Closed up another 33% today - hopefully some jumped on and are in the green.

Tiny market cap and should have plenty left in it.

ALK:

Closed up another 9% and added another ~$30M to its market cap, after adding $100M+ last week after its discovery.

Keep an eye on both, especially if MAG drops a JV that they've been talking about for a while now (said talking to $23 billion market cap Majors).

Cheers,

GB.

XAO Value at posting: 6,782.0
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2 Great analysis

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