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MAG - Magmatic Resources

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Magmatic Resources Limited is a mineral exploration company specifically formed to purchase four Gold, Copper/Gold porphyry, and base metals exploration projects in East Lachlan, NSW from Gold Fields.

It is anticipated that MAG will list on the ASX during March 2017.

https://magmaticresources.com
 

greggles

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MAG has really taken off in the last couple of months. It is re-focusing on its East Lachlan assets and has recently raised $2.2 million via the issue of 27.5 million new fully paid ordinary shares at 8c per share.

They intend to immediately commence planning a high impact drilling programme starting at the Lady Ilse prospect which is adjacent to Alkane Resources recent Boda and Kaiser discoveries.

I haven't read too deeply into the most recent announcements but those who managed to get in on the placement are in the money already with MAG currently trading at 13c.

Will be looking a little deeper into this one.

big.chart-MAG.gif
 
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Hey mate I took a punt on this one today. I saw the uptick in the chart and think it will keep moving in that direction until the results come back. The hard bit will be whether to sell before or after the results are announced.
 

Dona Ferentes

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just posted this on new thread AGC

AGC’s projects are contributed by Magmatic Resources (MAG) and New South Resources (NSR) at a valuation of $10.0 million. There will be an 80% in-specie distribution of AGC shares to MAG and NSR shareholders, with the remaining 20% held by MAG and NSR

Looked up NSR, there is a website which seems to be inactive since 2018 and no ASX listing. Privately held?
 

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