Whilst I am hoping for MGT shareholders that management can pull a rabbit out of their hat, I am not holding my breath.
I have always thought that JFE have been waiting for an approved mining lease - therefore if the mining lease gets approved, I think the chances of the JFE deal being formalised increases.
But given the history, management will soon start to lose credibility about being able to complete the deal if there are not some good reasons for further delays provided. I looked over the past announcements:
Original announcement on 8 July 2024 - "aim to execute a definitive agreement by 31 January 2025"
From the September 2024 quarterly - "Negotiation of Definitive Agreements with JFE Shoji in progress, targeting Q1 2025 execution in accordance with Heads of Agreement"
From the December 2024 quarterly - "now scheduled for execution in Q2 2025."
From the March 2025 quarterly "targeting execution of Definitive Agreements in Q2 2025"
And no announcements of any substance from MGT since the last quarterly was released on 29 April 2025, which seems a little quiet for MGT - I can only hope that means something positive for shareholders.
MGT Price at posting:
10.5¢ Sentiment: None Disclosure: Not Held
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