MGU - Magnum Mining and Exploration

[System]

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

 

[greggles]

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.

 

[greggles]

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.

 

[Sean K]

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...

 

[greggles]

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.

 

[greggles]

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.

 

[Swervin Mervin]

Going to be an interesting month ahead for Magnum with so much newsflow expected. Bought a few over the last couple of weeks, but only just getting going . Currently 5.1c

 

[Gorillianaire]

Anyone been keeping tabs on what's happening with Magnum. Or has this stock slipped under the radar of late.

A quick update from what has been added at the top, by The System...


Magnum Mining and Exploration Limited is an Australia-based company (ASX: MGU), which is engaged in iron ore concentrate and green pig iron production.

• The Company's Buena Vista Magnetite Iron Ore and HIsmelt Pig Iron Project is in the US State of Nevada.
• The Company's Appalachian Iron HIsmelt Pig Iron Project is in the US State of West Virginia.
• Using 100% Biochar, Magnum will produce green pig iron using the HIsmelt technology.
• Our company will produce green pig iron for EAF steelmakers on the US west coast and in the Ohio River Valley.

Magnum are also progressing with HIsmelt Technology in Saudi Arabia.

 

[Gorillianaire]

Most of this info can be found on the WebSite. A few points to note.

STEELMAKERS ARE SEEKING EFFICIENCIES
to better manage, reduce and control emissions released during the steel during the steel making process.

THE USE OF MAGNETITE IN THE PLACE OF HEMATITE AND GOETHITE / LIMONITE
can reduce the steel making emissions intensity as 30% during the overall steel making process.

HIGH GRADE MAGNETITE CONCENTRATES
contain very low levels of impurities such as silica, phosphorus, alumina and Sulphur. This means that during the steel making process less energy is required for blast furnaces to "slag off" the impurities thereby reducing unwanted emissions and waste products.

MAGNETITE CONCENTRATE PRODUCES MORE STEEL FOR EACH TONNE USED
This creates the added benefit of reducing steel making costs through lower energy requirements and raw material inputs (such as coking coal).

THE USE OF MAGNETITE CONCENTRATE
for steel making in sinter feed blends and pellet feed is widespread and growing.

MULTIPLE MARKETS
(not just China) are available to magnetite concentrate producers.

 

[Gorillianaire]

Links of interest.

magnum-mining-and-exploration-unveils-engineering-study-on-hismelt

Magnum Advances Study

 

[Garpal Gumnut]

‘Will drop in group in 10’: ASX Wolf accused of early tips

Sharetrader Tyson “ASX Wolf” Scholz encouraged subscribers paying $1000 a head to load up on specific stocks before releasing information to a wider audience, a court has heard.

www.afr.com

Memory is what makes us human, and so it is that Magnum Mining and Exploration tugged at some cells tucked away in the vast recesses that used to be my temporal lobe.

Sharetrader Tyson “ASX Wolf” Scholz encouraged subscribers paying $1000 a head some years ago to load up on specific stocks before releasing information to a wider audience, a court has heard.

One of which was MGU.

In a case examining how traders use social media such as Instagram and Discord, Mr Scholz is also accused of giving notice about buying shares to one subscriber dubbed “CommSec Queen” before other members of his special grou

Thank you AFR.

Magnum Mining and Exploration, a pup of a stock is now moving towards further shares being possibly issued to and partners in the murky corners of New York and Saudi Arabia, prior to a possible listing on US markets,

MGU now has reached further heights by appearing on ASF with some breathless posts.

Tyson was found to owe ASIC over $400,000, their costs, the silks he engaged were not cheap neither was last heard to be allegedly approaching bankruptcy. This is a pre-ASIC picture of Mr.Scholz. An online search is more than interesting.

And what has this to do with MGU, Magnum Mining and Exploration?

As Mr. Schultz would say ... I know nothing.

gg

 

[Gorillianaire]

Tyson “ASX Wolf” Scholz, is listed in the Top 20 for Magnum.
All Small Caps have some drama attached to them, in one way or another. After all Australia was built by Crims being resettled..

Won't stop me holding, or making further purchases.

 

[Garpal Gumnut]

Tyson “ASX Wolf” Scholz, is listed in the Top 20 for Magnum.
All Small Caps have some drama attached to them, in one way or another. After all Australia was built by Crims being resettled..

Won't stop me holding, or making further purchases.

Where is young Tyson up to with his bankruptcy now? There may be a few of his many, many shares going cheap in this dog.

I wonder if anyone else has decided to have a go at spruiking this yapper by posting all of a sudden on stock forums and social media about it .

gg

 

[Dona Ferentes]

After all Australia was built by Crims being resettled..

remind me again of the onboard service offering on convict ships. Bubbles before a flogging?

 

[Gorillianaire]

Where is young Tyson up to with his bankruptcy now? There may be a few of his many, many shares going cheap in this dog.

I wonder if anyone else has decided to have a go at spruiking this yapper by posting all of a sudden on stock forums and social media about it .

gg

Ahhh, I see. So the 1st (only) rule of this ASF Forum is only discuss stocks, that we are discussing.!! Please do not discuss other stocks, that we designate as yappers or otherwise, no matter how far advanced or at ground level. Got ya.

Guess the mantra was right when they said that ASF was just another HC on steriods. Pretty much the same downrampers and antagonists, just masquerading under new monikers.

 

[Garpal Gumnut]

Ahhh, I see. So the 1st (only) rule of this ASF Forum is only discuss stocks, that we are discussing.!! Please do not discuss other stocks, that we designate as yappers or otherwise, no matter how far advanced or at ground level. Got ya.

Guess the mantra was right when they said that ASF was just another HC on steriods. Pretty much the same downrampers and antagonists, just masquerading under new monikers.

Well the chart looks pretty dreadful so what’d ya reckon?

gg

 

[noirua]

Metallurgical testing yields high grade concentrate of 68.3% iron for Magnum

Magnum Mining and Exploration Ltd has yielded strong results from metallurgical testing on magnetite from its Buena Vista project.

themarketonline.com.au

Magnum Mining and Exploration Limited (ASX:MGU) has rolled out metallurgical testing on a bulk sample of magnetite from its Buena Vista Iron Project in Nevada, showing the potential for a high-grade concentrate of 68.3 percent (iron) to be produced through a relatively simple grinding process.