Magna has a lot less than $500K to convert and sell. It's also over a 7 month period. Let's hope management pull off the gold project with financing and then MNQ will not need to draw down the Magna facility. Keep in mind that it's at MNQ's election as to whether they do the monthly draw down or not. Therefore, if they don't need the financing they don't need to draw it down. It all comes down to management getting a project that the market and financiers will support.
MNQ Price at posting:
1.0¢ Sentiment: None Disclosure: Held