The structure and electronic properties of liquid alloys with compositions close to the stoichiometric composition have been measured. The extremely deep minimum in the electronic conductivity observed previously at this composition is confirmed and shows a minimum value of which is characteristic of a good liquid semiconductor. In contrast, the thermopower of the samples never exceeds for all the compositions studied and is more typical of that expected for a poor liquid metal. Measurements of the liquid structure at the total structure factor level for and 0.42 reveal broadly similar diffraction patterns despite a change in conductivity of two orders of magnitude over this composition range. However, a small enhancement of the intensity of the pre-peak in the total structure factor at is observed at the stoichiometric composition and this may be indicative of stronger ordering in the Bi - Bi structure at stoichiometry. A detailed analysis of the total structure factors and a comparison with recent computer simulations confirm the ionic nature of the liquid. The electronic properties are discussed in terms of a charge-transfer-type density of electron states and it is concluded that the rapid change in conductivity and the low thermopowers are poorly understood using this framework. It is speculated that the unusual properties of this alloy are linked with an unusually high ionic mobility of Mg ions in the liquid.