No question EGZ mangement is not standing still. They have achieved more in 12 months than MGY has in 5 years!
The new Technical Director (MGY) has been with the company some 6 months or so, but his recent announcements to the ASX suggest to me that he has not bothered to go back and read the last 10 QRs/Updates. For my sixpence. the 26 Aug "Discovery of Potential Field of High Grade Graphite" was a regurgitation of known information and hence the drop in the SP.
With a CR imminent, shareholders want to know how, or as a minimum the options being considered, the required funds will be raised.
Hopefully, the new MD will have business acumen as his main qualification with 'energy' a close second.
PLease DYOR as this company causes me a touch of heart burn!!!
Cheers
R1
MGY Price at posting:
2.9¢ Sentiment: None Disclosure: Held