MGY (ASX) Will MGY be flying soon?

Originally posted by amok ↑

ozone I suggest you go back and read the announcements properly.

November 13, page 3 "If the above work justifies, a program of additional traverse sampling and trench-costean sampling will
be undertaken when the 2014 field season commences. "

We are now into July only of 2014. (season did not start in January 2014) They have a team of 40 onboard, (more than just the geos in the field). My impression is you have made a judgement from the recent photos which shows a pick or lens cap next to a graphite sample. From which you are probably suggesting the guys just kick rocks around and do little else. I see little substance in your claim unless you have talked to the company directly. Which I doubt, since I have and am getting a very upbeat feel about the company. Yes lots of graphite laying around, but not all of it part of a larger system.

As for the recent surge in sp...yes probably due to a push to get some money, daytrader attention or just people switching stocks around after tax breaks.

Appreciate your post, but would like to see your comment validated.

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I think you are focusing in the wrong direction. My point - that you seem to have missed - is that these guys have rock-pick sampled these same areas multiple times since 2012 and each season (which runs from May to early December if you look at Energizer reports) they promise drilling and trenching as a follow-up. This is from their own reporting.

So far to date, nothing on either front.

In this context, lens caps in photos mean nothing. Not sure where you got the 'team of 40' info, but that means little. It is the 'geo's in the field' that are going to make this work; if it does ultimately work. Guys running exploration programs from Perth are of no value - nor are upbeat feelings.

Until the company gets those 'geo's' actually drilling or actually trenching, I simply do not see any sustained upside. If anyone out there is aware of any exploration company that has developed a project without doing any drilling on it I would love to hear about it.

Mate, no hard feelings at all, but I suggest you take your own advice and take a proper look at those prior announcements yourself. There you will find your validation of my actual comments (not your incorrect interpretation of my comments).

I think we are in agreement on the promise of the projects. I have never felt otherwise. My concern - well founded on observed facts over nearly 3 years - is with managements ability to actually deliver value on these projects.

Enjoy your 'upbeat feel'; I will wait until they report that they are actually drilling for real rather than just promising. They do have their own rig that they used every year until 2011, so I live in hope. OZ