Magma Metals Limited T.MMW

my hat goes

[rallard]

off to PAN, not every day you get an 800,000 oz Pt/Pd deposit for 6 million dollars (MMW had about 18 million in cash). I do realize the markets are in turmoil but this deal does have some interesting optics.You do have to wonder about Anglo Pacific though, buying all through the hostile offer with an average in of about .33 and then tendering all their shares to the offer at a dime.hmmmmmmmm makes one speculate eh?

 

I guess I will be a PAN sh before to long, and I will hold them for the Thunder Bay North Property, which may turn out to be one of the largest Pt/Pd complexes in NA.

[rockresearcher]

I think you'll find MMW has closer to $8 million in cash ($9.8 at March 31). Still, as you say, it's cheap.

[rallard]

Your right it is closer to 8 Million so they paid 16 Million for a 12 Billion dollar resource to date. An instu value of about .013%. Cheap is an understatement. I wish I could "Buy" something say like a new Toyota truck for .013% of its price, I can afford about $600 this month for a new Tundra.