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44.5¢ mount gibson iron limited

MGX should think about buying out BML while the price is cheap.I...

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falcon347

2,435 Posts.

349

07/09/23

17:49

Post #: 69774770
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Originally posted by miningnut: ↑

Although it's a good idea for MGX to buy-back shares when they're apparently cheap and when the Company is not in a position to pay fully franked dividends - it would again be a case of how the two controlling shareholders(Allied Properties of HK & Shougang Group of Beijing) that have around 50% of the issued shares view such a transaction and whether they would sell some shares into the buy-back or just sit there and have their ownership percentage increase without any financial payment from them. The closer their combined shareholding gets to 75% then the closer they can gain complete control through a 'Scheme of Arrangement'.
At the moment, Paradice's 9.5% shareholding is protecting other shareholders to a large degree from such an outcome - any reduction in Paradise's shareholding going forward then I'd be outta here quicker than jack flash.

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MGX should think about buying out BML while the price is cheap.
I can see a lot of similarities and would be a great fit.
1. Kimberley region WA
2. Open pit
3. Base metals like what they say they've been looking at
4. Project ready to go and could be operational by the time Koolan finishes up

MGX Price at posting: 44.0¢ Sentiment: Hold Disclosure: Held
2 Upvote

1 Great analysis

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(20min delay)
Last 44.5¢		Change 0.010(2.30%)		Mkt cap ! $540.6M

Open	High	Low	Value	Volume
43.5¢	45.5¢	43.5¢	$670.4K	1.500M

Buyers (Bids)

No.	Vol.	Price($)
2	79452	44.5¢

Sellers (Offers)

Price($)	Vol.	No.
45.5¢	293614	10

View Market Depth

No.	Vol.	Price($)
2	79452	0.445
4	228374	0.440
4	421000	0.435
8	105974	0.430
7	177432	0.425

Price($)	Vol.	No.
0.455	276053	8
0.460	217725	6
0.465	239000	4
0.470	256125	3
0.475	119599	4

Last trade - 16.10pm 17/05/2024 (20 minute delay)


Last 45.0¢			Change 0.010 ( 3.62 %)
Open	High		Low	Volume
43.5¢	45.3¢		43.5¢	200847
Last updated 15.59pm 17/05/2024 ?

MGX (ASX) Chart