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IGE - Integrated Green Energy Solutions

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bigt

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Just came across this potential little gem - MGK, used to be in the magnesium business (still is really) though just bought an option to acquire an iron sands project in PNG. Looking at the potential tonnage and grades (non-JORC of 445mt @ 10 Fe) this is way above the (non-jorc) estimated tonnage/grade of ANU (around 300mt @ 5% Fe).

Though look at the MC's..ANU $70m...MGK...$9m..(with $5.6 million cash in the bank)...some upside would you say, purely comparing the basic material figures.

MGK just announced they are starting an aeromagnetic survey and looking to increase the potential tonnage.

Just one for the iron enthusiasts, and those looking for a good fundamental play.
 
Re: MGK - MIL Resources

Following on from my initial post, could one of the fundamental traders make an assessment of MGK's potential, based on comparisons with other iron sands plays? I have posted what I know, though would like opinions from more experienced fundies
 
Re: MGK - MIL Resources

Evaluation of their iron sands resource in PNG now underway.

$5m cash in bank ($9m market cap, undil) should mean no capital raisings for exploration over 2008.

Should make for an interesting next couple of months - if there are economic amounts of iron there (and hisrotical drilling has demonstrated this) then it could move rapidly.

Please DYOR - any opinions?
 
Re: MGK - MIL Resources

does any one know why MGK jumped 28.21% on Friday, with heavy volume of 3.23 million?

might jump in on Monday if there is another big volume & movement.

Thanks
 
Re: MGK - MIL Resources

a lot has changed since then a new board and about to drill in a few weeks, a bit of cash to do drilling round 1 . here is hoping drilling produces good results , the sp has been around 2 cents for far too long


asx256 said:
does any one know why MGK jumped 28.21% on Friday, with heavy volume of 3.23 million?

might jump in on Monday if there is another big volume & movement.

Thanks
Click to expand...
 
Re: FOY - Foyson Resources

MC - $5.4m
SP - 0.8c
Shares - 683m
Options - Nil listed
Cash - $697

- Foyson entered into strategic discussions with TVI Pacific, which may lead to a material transaction, following payment of a $100,000 fee for a period of exclusivity;
- Foyson subsequently extended the period of exclusivity with TVI Pacific, on payment of a further fee of $200,000;
- Share Purchase Plan raised $219,200, in addition to the completion of a private Placement, which raised $900,000;
- Foyson entered into Option Agreement to sell its interest in Myrtle Springs magnesite tenements for $1miilion;
- Porphyry system confirmed by diamond drilling at Atui, in south New Britain;
- An Induced Polarisation survey underway over Atui region;
- Agreement reached to take Option over remaining 50% interest in Amazon Bay Project;
- Preparation underway for drilling and metallurgical test work program at Amazon Bay;
- Engineering study on Amazon Bay Project provides encouraging financial outcome;
- Company changes name from Mil Resources to Foyson Resources Limited.
 

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On August 26th, 2015, Foyson Resources Limited changed its name to Foy Group Limited.
 
On September 12th, 2017, Foy Group Limited (FOY) changed its name and ASX code to Integrated Green Energy Solutions (IGE).
 
I'm not really up-to-speed on what Integrated Green Energy Solutions are doing as a company but their share price has been surging during the last week.

Anyone know more about IGE?

 
Significant announcement released today that should result in some good share prices gains in January.

A co-owned subsidiary, Integrated Green Partners LLC, which processes auto shredder residual (ASR) into a range of fuels and products by taking the ASR and removing the plastics that are then used with the Integrated Green Energy Solutions technology to produce fuels, has finalised a major transaction.

The inaugural ASR to fuel site will still be located in Camden, Indiana. The current planning is that this site will see the construction of twenty-four 50 tonne per day (TPD) modules that are capable of processing 1200 TPD of ASR derived plastics into 420 million litres of fuel per annum.

I'll quote the rest directly from the announcement:

This sounds like a big deal that is going to result in a lot of revenue flowing to IGE. I think the punters will be quick to catch on to this once they come back from holidays next week. Looks for some serious share price gains next month!
 
After hitting a high of 31.5c last week, IGE has come off the boil in a big way and is now back to 19c. The excitement has well and truly worn off and the profit takers stepped in and started selling into the buying frenzy.

On Tuesday IGE announced that the Company's application for grant funding under the Australian Government Cooperative Research Centres Projects Round 8 has been successful and they have been awarded a total of $1.98 Million to be spent over 3 years.

Other than that, no other news. Will be interesting to see if there are any follow up announcements in the near future to the announcement released on 31 December.
 
whoops
 
greggles said:
This sounds like a colossal stuff up and sounds very sketchy from the outside looking in. No wonder the ASX is getting involved. How disappointing.
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more than a Red Flag. It's one thing to hitch along with 'Momentum Thematics'; another to think such stunts are overlooked
 
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