Ann: December 2017 Half Yearly Report and Accounts, page-31

Mongrel
I disagree. 3 years ago we were buying these at 19.5c-22 c believing it was valued in the mid 30s .
18 months ago after the first Insurance payout we were buying in the mid - high 20s knowing they were worth 40-50 c
Today we buy in the mid to high 30s knowing they are worth 55-65c
Throughout this period it has overshot on the downside a few times , each time proving to be a great opportunity to buy . It does get affected a lot by sentiment and my approach has been to exit when price is stronger and sentiment positive even though I know I am leaving some value on the table , as it tends to swing around . In each of my 3 entries i have made decent 6 figure profits twice , in my last one a smaller profit and I expect this latest entry will see at least a 20-30% return most likely off the back of the next quarterly or KI extension and possibly an acquisition. If for example the announce KI extension of the projected 7 m tonned at a grade of 65% that would value MGX at 63-70 but again I would be a happy seller in the high 40s low 50s . The beauty of it all is given the nearly 70m discount to cash and continued profitability I can hold a decent parcel while sleeping well
Today I bought 40k at 38
100k at 37.5.
And 80001 at 36.5 at market match and I am first in line for another 14999 at 36.5