MGT - Magnetite Mines

[brerwallabi]

dont you reckon there's a bearish divergence going on atm?.. it didn't hit it's recent higher high :/

Yes it’s struggling to get over 2.8, volume is tailing off however buyers are taking it today at 2.9.
Next week you might think differently, I did miss the boat.
The recent annocement seemed to be well received and better days may be ahead.

 

[Sean K]

These guys do have a massive deposit. It's just going to take massive Capex and Opex. Calling it 'high grade' is a bit of a joke though. It's like sub 30% magnetite. After beneficiation it turns into something saleable.

 

[Sean K]

"Not launched any formal processes"

 

[brerwallabi]

Glad I never bought it.
Opportunity now ???

 

[Sean K]

I wonder if Gupta has his nose in the data room?

 

[Dona Ferentes]

I wonder if Gupta has his nose in the data room?

More likely in the public purse.

 

[Sean K]

More likely in the public purse.

Yeah, I wonder what concessions companies are going to get from governments for pretending to go green?

 

[brerwallabi]

Just can’t work this stock out.
I almost bought 100000 shares a while back, glad I didn’t.
If I had, with the plans they have those shares would decrease to 2000 and be priced in the mid eighties.
The value would still be the same however with this company’s history and shareholders I can see that price dropping rapidly, just my thoughts.
Almost 4 billion shares turned into just less then 80million roughly in a 1 for 50.

 

[frugal.rock]

Had noticed the move yesterday or day before, but didn't look at the chart.
It's just filled the gap to the upside.

 

[Sean K]

Had noticed the move yesterday or day before, but didn't look at the chart.
It's just filled the gap to the upside.

View attachment 152851

Geesh, yesterday would have been a nice entry.

 

[brerwallabi]

Geesh, yesterday would have been a nice entry.

Me and MGT, it’s enough to make a grown man cry.

 

[Sean K]

There was an OK reason for the jump in Feb.

Not for this....