MGX 0.64% 77.5¢ mount gibson iron limited

mgx ann - quite expected

  1. 708 Posts.
    I expected that there would be problems with this share placement for two reasons:

    Firstly, because of the price that the placement was to go through - much above the current share price.

    And secondly, this "Grandier family" did not appear convincing, twice asking for extensions, part placements etc...

    In the end the market got it 100% spot on (as it usually does) by being sceptical.

    The company failed to raise the cash and now it will dilute shareholder equity with what I see is poor planning really. In the end I think MGX did not get any real Institutional support. And going foward, I fail to see how they are going to get their support.

    So, MGX is a sell.
 
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Last
77.5¢
Change
-0.005(0.64%)
Mkt cap ! $897.2M
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77.0¢ 78.5¢ 76.5¢ $2.805M 3.624M

Buyers (Bids)

No. Vol. Price($)
2 18000 76.5¢
 

Sellers (Offers)

Price($) Vol. No.
77.5¢ 128423 3
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Last trade - 16.10pm 14/11/2019 (20 minute delay) ?
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Last
76.8¢
  Change
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78.0¢ 78.5¢ 76.5¢ 920961
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