The announcement was regarding copper drilling results. Photos...

The announcement was regarding copper drilling results. Photos showed possible sulphide mineralisation from memory. Assays later revealed lower than expected copper content at the selected targets.

I understand that they intend to continue their exploration for copper/gold/silver in due course. The rock samples they have retrieved thus far are amazing. Very exciting - high silver, copper, gold grades from memory. An added bonus to those who invested in MGY purely as a graphite play.

With respect to announcing further drilling activities, I suspect they are secretly hopping that other minerals are discovered alongside or instead of the graphite mineralisation courtesy of EGZ's exploration budget. I think this approach of waiting for EGZ to do some drilling first is prudent in that it allows MGY to gain a solid understanding of the geology before funding additional drilling activities from its own purse (thereby reducing the risk of dud results, capital raisings, dilution etc).

Your right though, the fact that the SP reaching significantly higher levels on far less impressive information shows that there is plenty of upside to this one. Directors buying so many shares recently is a good sign for this this project.