# MGU - Magnum Mining and Exploration



## System (19 August 2010)

Magnum Mining and Exploration Limited (MGU) is a mining and exploration company focused on Tantalite Valley Project in Namibia. The company continues to assess suitable acquisition opportunities on other potential projects.

http://www.mmel.com.au


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## greggles (24 February 2021)

MGU has discovered an undrilled high grade magnetite prospect at their recently acquired Buena Vista Project in Nevada, USA. The company has named it the Iron Horse prospect.

Here are the highlights:







The find has woken up the MGU share price and it has spiked nicely today.


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## greggles (9 March 2021)

First Growth Funds Limited (FGF) has recently acquired a stake in MGU to the tune of 22,500,000 FPO shares at an average price of 4.7c a share.

The Becoming a substantial holder notice was released yesterday and MGU is up 21.7% today and is currently trading at 14c.

Are the two related? Who knows, but if FGF sees value in MGU then it's probably worth running a ruler over it.


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## Sean K (9 March 2021)

It's hard to tell how much extra ore that additional target will add. 

Is Buena Vista large enough to be excited about? I've forgotten how to value these things...


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## greggles (9 March 2021)

kennas said:


> It's hard to tell how much extra ore that additional target will add.
> 
> Is Buena Vista large enough to be excited about? I've forgotten how to value these things...
> 
> View attachment 121088




Iron ore prices are currently higher than they have been in almost a decade. So that will definitely help the project economics, especially if prices remain bullish.

Is it large enough? Well given the high grade of the ore, soaring iron ore prices, and the fact that there may well be more ore under the ground than they are aware of... I think it's a good prospect.






Iron ore prices will drive the share price in the short term. Will be interesting to watch at least.


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## greggles (4 June 2021)

MGU having trouble with resistance at 19c, but today's price action has been bullish so far. 

The company's Nevada office was expected to be fully operational by the end of May and they had flagged their intention to fast track iron ore shipments. I'd be watching MGU closely for any news that sends it over 19c on good volume. Might be a good trading opportunity.


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