Back in August I wrote about MGX Mineral Inc. (Symbol CSE: XMG). There has been some great progress with this company and things continue to look even better.
Technical analysis and trading is my passion and getting involved in new companies which have a quality product, proven management, and have the right timing for entering a market which is close to starting a new bull market is one of the most exciting types of long term investments to watch unfold.
Don’t get me wrong, investments are just that… long term, and take years to unfold, but if you are positioned with the right company at the right time returns can be life changing 3-5 years down the road.
Long story short MGX Mineral’s has what myself and many others believe to be a world class open-pit mine for Magnesite. It’s high-grade mineral, location and potentially lowest processing and shipping costs position this company at the top of my investment list. This is not a 2-3 year mine that will be out of material like most gold and silver mines, this a 100+ year operation in the infancy stage.
This is new company which means two things:
Looking at the chart below we can see share price is rising with a bullish pattern. At this point the chart is indicating the next rally should reach 92.5 cents per share up 50%.
To be honest, I have never had the opportunity to find and be involved with a company that has this much potential long term. Jared the CEO and myself both see this being a billion dollar company way down the road and know that makes this company an incredible value at this price.
My partner Kal Kotecha who helps me find and research these micro cap stock plays for our long term portfolio just release his update which I have added below for you. Check it out!
Kal Kotecha’s Recent MGX Mineral Inc. Report
Early in August, we wrote an article detailing MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG), a mining company engaged in the acquisition and development of industrial mineral deposits in Western Canada. MGX is unique in that it is carving a niche within the junior mining field by directing efforts toward high grade magnesite (MgCO3) extraction through their Driftwood Creek mining deposit located in southern British Columbia, Canada.
MGX’s stated strategic objectives include constructing a quarry mine and processing plant to produce magnesium oxide at Driftwood Creek. The Company owns the majority of significant magnesite properties in the Province of British Columbia, as reported by the British Columbia Geological Service, and is making the most of its assets by moving forward in extraction and processing of available resources.
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