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CMM - Capricorn Metals

Joe Blow

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Malagasy Minerals Limited (MGY) is a mineral exploration company focused on projects in Madagascar. The exploration tenure comprises nine projects covering approximately 6,300 square kilometers.

http://www.malagasyminerals.com
 
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Re: MGY - Malagasy Minerals

Malagasy Minerals Limited (MGY) is a mineral exploration company focused on projects in Madagascar. The exploration tenure comprises nine projects covering approximately 6,300 square kilometers.

http://www.malagasyminerals.com
A bit of doubt thrown in the wood pile by a request for financing information by the ASX in early May to justify continuation of the market quotation. Company presently in "Trading Halt" (placed in pre-open) as of 7.03pm today, regarding capital raising.
 
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Re: MGY - Malagasy Minerals

It's been a nice couple of days for MGY really setting up some support at around 22c. No heavy selling, possibly more news to come from the (IPC0006) second drill hole or some early assay results from the first (IPC0001) sooner than you might think.

The upside potential in this company is great IMO, with income from royalties and rental of their logistics base in Madagascar. Drilling during 2010 (using their own drill rigs) at 3 of their 100% owned projects Ampanihy, Vohibory and Fotadrevo

Please DYOR though

Cheers Neil
 
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Re: MGY - Malagasy Minerals

Making a move today and yesterday - up above 8c and reasonable volumes. Looking forward to these assays and drill programs.
 
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Re: MGY - Malagasy Minerals

Yeah i watch everything MGY do.
Was recommended a while ago, but seemed like a bit of a small scale pump and dump.
Rich land however, so i'd keep an eye out for them.
 
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Re: MGY - Malagasy Minerals

What do you think would be the concequence if i were to sell 10001 @ 0.050
Then instantly change my limit price to 0.041 and sell 1 unit.
Resulting in a closing price for the day of 0.041 ~ 20% down.

Think i could spook a few mum and dad investors? :D

27zao29.jpg
 
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Re: MGY - Malagasy Minerals

This stock is a bargain at the moment... Its fallen so far due to inactivity, the drilling season is about to start up again and the stock is miles behind where it was when the season finished.

You get 1 or 2 trades per day, worst liquidity ive ever seen, all due to it being off season, but in my opinion you could make a killing taking advantage of this lull. The price just keeps falling because its scaring investors off as they dont know the Madagascar season hasn't started.

I'd advise members to do some research into MGY and see what they value it at.
 
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Re: MGY - Malagasy Minerals

Made this today, todays close helps confirm it @ 4.5c
Volumes increasing, news is imminent. Good times ahead IMO.
DYOR

MGY.jpg
 

tech/a

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Re: MGY - Malagasy Minerals

Turnover today was $4200
on increasing volume!
Race 5 number 6 at Rosehill.
 
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Re: MGY - Malagasy Minerals

4K in one day is pretty good for MGY sometime :)
I meant volume in the past week in comparison to the month proceeding it.
 
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Re: MGY - Malagasy Minerals

Breakout alert :banghead:

Kept watching... and watching.. now up 30% dang.

When to enter?!
 
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Re: MGY - Malagasy Minerals

Bought this one 10 days ago, finished yesterday @.12, (+55%) a fair rise IMO. Is now in a Trading Halt. any thoughts ?
 

System

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On February 11th, 2016, Malagasy Minerals Limited (MGY) changed its name and ASX code to Capricorn Metals Limited (CMM).
 

greggles

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Capricorn Resources has confirmed this morning that it is in receipt of a confidential, non-binding, indicative acquisition proposal from Regis Resources Limited in relation to a scrip acquisition of 100% of Capricorn by Regis. The proposal is at a price of 11.4c per Capricorn share which represents a premium of around 93% to Capricorn's closing share price on Friday 21 September 2018 of 5.9¢.

Here's the Mining News article from 22 September mentioned in the announcement as the cause of the speculation: https://www.miningnews.net/m-a/news/1347195/capricorn-in-play

It looks like Regis Resources is keen to grow through acquisitions and a number of undervalued gold explorers and developers are probably having the ruler run over them by mid-tier producers keen to increase reserves at bargain basement prices.

I reckon there's going to be a lot of M&A in the gold sector in the next six to twelve months. Finding undervalued goldies with decent reserves could be a profitable exercise if the gold price starts heading north from here.

CMM up 52.50% to 9c so far today.

big.chart-CMM.gif
 

greggles

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Huge volume and a 31.50% share price increase to 11.7c today after CMM announced a total equity raising of up to $18.26 million through the issue of up to 280,922,429 new shares at an issue price of 6.5c per share to advance development at the Karlawinda Gold Project.

The equity raising of $15 million will be completed in two tranches, with tranche two requiring shareholder approval and a further $3.26m to be offered to Hawke's Point pursuant to its existing top-up right under its Subscription Agreement with the company.

Immediately subsequent to the completion of tranche one of the placement, Mark Clark and Mark Okeby will be appointed to the Board as Executive Chairman and a Non-Executive Director, respectively and Mr Doug Jendry will step down from Non-Executive Chairman to Non-Executive Director.

Looks like things are starting to happen for CMM and the cash from this capital raising will certainly move the Karlawinda Gold Project ahead.

The next six months will be an interesting time for Capricorn Resources.
 
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Looks like things are starting to happen for CMM and the cash from this capital raising will certainly move the Karlawinda Gold Project ahead.
The next six months will be an interesting time for Capricorn Resources.
On the money again Greg;)

CMM 5july2019.jpg
 
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