Cannacord has just released an analysis with a price target of 75c. The main take I get from them is that the resource is not really large enough. At present there is an inferred resource of 613kOz. Starlight will add between 150 to 250kOz. This gives us around 850kOz for an Ev/Oz of around 300 (high) The new lodes are where MGV need to prove up. More resource is required to justify any price rises from here on... Thats what I think the market is pricing... Fair enough.
MGV Price at posting:
53.5¢ Sentiment: None Disclosure: Held
