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Thanks & Question on MGT

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Thanks & Question on MGT

Hi James, First of all, as one of your foundation members, I would like to thank the MM team for the continual improvement approach you apply to your Service - this and your general style certainly sets you apart from your competitors. Keep up the good work. I know that small cap mining companies are not a particular area of focus for MM but I was wondering whether you could provide a view on MGT. I invested in MGT in mid November 2020 and have since Sold enough shares to recoup my initial investment. I am currently letting my profit run as MGT seem to be in the right commodity at the right time, are tech savvy (about to trial new technology to seperate high quality ore) and are growing their resource base. Thanks, Ian Porter

Answer

Hi Ian,

This $80m South Australian miner is certainly not on our usual menu! I would have to simply evaluate this as a “speccy” technical play and hence I would be looking at stops under 1.8c, it feels 50-50 just here.

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Magnetite (MGT)
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