“Magnetic Resources NL hits the ground running at Laverton Gold Project”
October 29, 2022
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MAU Intrinsic Value – Magnetic ($ASX:MAU) Resources NL is pleased to announce that it has hit the ground running at its Laverton Gold Project in Western Australia. The company has already completed an initial program of ground-based geophysics and is now moving on to the next stage of exploration, which will involve drilling.
This is a very positive start to the project and bodes well for the future. We look forward to seeing how the company progresses in the coming months.
Stock Price
MAGNETIC RESOURCES NL had a tough start to the week, with its stock opening at AU$0.9 on Monday and closing at AU$0.8 by the end of the day. This represented a 4.2% decline from the stock’s previous closing price of AU$0.9. The company is currently developing the Laverton Gold Project in Western Australia.
Despite the recent stock price decline, the company appears to be making good progress on the project. The company’s flagship project is the Laverton Gold Project, which is located in the Laverton district of Western Australia.
VI Analysis – MAU Intrinsic Value Calculator
The company’s fundamentals reflect its long term potential. The intrinsic value of Magnetic Resources NL shares is around AU$0.7, which is calculated by VI Line. The company’s stock is currently traded at AU$0.8, which is overvalued by 22%.
VI Peers
The company is engaged in the exploration, development, and production of mineral properties. The company’s primary focus is on the exploration and development of gold projects located in Western Australia. The company’s competitors include Audalia Resources Ltd, Flinders Mines Ltd, Greenstone Resources Ltd.
– Audalia Resources Ltd ($ASX:ACP)
Audalia Resources Ltd is a company that explores, develops, and produces minerals. The company has a market cap of 8.31M as of 2022 and a ROE of -5.37%. The company’s main products are copper, gold, and silver.
– Flinders Mines Ltd ($ASX:FMS)
Flinders Mines Ltd is an Australia-based company engaged in the business of developing, exploring and operating mine projects. The Company’s principal project is the Pilbara Iron Ore Project located in the Pilbara region of Western Australia. The Company also has interests in other projects, including the Wollongong Coal Project and the Ravensthorpe Nickel Project. The Company’s segments include Australia, Canada and Corporate.
Summary
Investing in MAGNETIC RESOURCES NL can be a smart move for investors. The company is focused on gold exploration and development in Australia and is making good progress at its Laverton Gold Project. The stock price may have been affected by recent news of a funding deal with a Chinese company, but this should not dissuade investors from considering MAGNETIC RESOURCES NL as a good long-term investment.
