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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mgx ann - quite expected
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Last
67.5¢ |
Change
-0.010(1.46%) |
Mkt cap ! $817.1M |
Open | High | Low | Value | Volume |
68.5¢ | 69.0¢ | 66.0¢ | $1.151M | 1.704M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 26638 | 67.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
67.5¢ | 53670 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 26638 | 0.670 |
3 | 40744 | 0.665 |
3 | 52622 | 0.660 |
1 | 45000 | 0.655 |
5 | 97380 | 0.650 |
Price($) | Vol. | No. |
---|---|---|
0.675 | 53670 | 2 |
0.685 | 115744 | 3 |
0.690 | 18922 | 3 |
0.695 | 10744 | 1 |
0.700 | 131976 | 7 |
Last trade - 16.10pm 26/05/2022 (20 minute delay) ? |
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Last
68.0¢ |
  |
Change
-0.010 ( 0.13 %) |
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Open | High | Low | Volume | ||
68.0¢ | 68.8¢ | 66.0¢ | 892423 | ||
Last updated 15.59pm 26/05/2022 (live) ? |
MGX (ASX) Chart |