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#ASX Announcements
stale
Added 3 years ago

Hi PICT, loving the enthusiasm, but.......

I hope I am interpreting this wrong. When I look at the MRG thread on Hotcopper, I find a near exact reproduction of your post here. It is dificult to reconcile this with the capitalised and bold, "please keep this information on Strawman".

And if you then add another re-post of essentially the same information on Strawman within 24 hours, it's starting leave a bad taste in my mouth. 

No doubt this an unintentional result of your previously documented enthusiasm for this company, but could I please urge some caution, that it could be interpreted quite differently,and not in the spirit of the community we all hope to build here.

Best of luck with the MRG story, as a holder of ILU, I will be following closely to see how things go.

C

 

 

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#Entering In Real Life Portfoli
stale
Added 2 years ago

I've entered MRG Metals in real life, but have not entered here on Strawman due to the 2c rule.

CR shares (206M units) have been issued today with Peak Asset Management and Pinnacle acting as lead managers/brokers. It will be interesting to see if some are sold prematurely; I'm planning to take advantage of any excess liquidity.

  • The Koko Massava resource has the potential to be a $1b+ NPV project and is moving into the feasibility stage.
  • The best overview of the company I could find from MRG Metals Chairman, Andrew Van Der Zwan, is the following, presented at NWR Resources Series 'Mining’s top microcaps and midcaps': https://www.youtube.com/watch?v=2A_bF1imJsg&t=1172s
  • The Koko Massava deposit in the Corridor Central Tenement, now has an updated MRE, including a significant, at-surface high-grade zone of 103M Tonnes at 6.6 % THM (Indicated 58M and Inferred 45M) (refer ASX announcement 16 December 2021).
  • Plenty of newsflow is on the horizon: the company is continuing its Mineral Resource Estimate (MRE) work within Corridor South and expects maiden MRE’s for Poiombo and Nhacutse targets within Corridor South, to be completed in January 2022.
  • Stage 1 of the project (high-grade zones) is likely to have a c.$200m CAPEX cost


My hypothesis is that now $MRQ.AX is in the feasibility stage, it will likely be re-rated (still sub $20m currently) as a scoping study is released and the market can finally assess the project economics. Tier 1 projects typically trade at c.10-20% of NPV, once at the PFS stage.

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#Share Price Breaking Out
stale
Last edited 2 years ago

Personally, I can envisage MRQ going over 2c this week or next.

For me, a c. $40M AUD market cap is about right assuming c.16% P/NPV of forecasted PEA NPV of c. $250M AUD.

Yet, management has historically mentioned figures closer to a $400M AUD NPV (all hypotheticals at this stage until the numbers are actually out). That would potentially support a valuation of up to $80M AUD on a P/NPV ratio of 20% once the PEA is released.

Stellar volume today. Let's see how this plays out over the coming weeks.

Appears that a re-rate has started.

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