In answer to Roscoe's question,
yes i revisited the numbers with the new exchange rate. on the information the company has provided to date, break even exchange rate is 62-63c. at todays levels project is not a goer. it is losing money. it wont be the first casualty to the new exchange rate paradigm, nor the last. i sold immediately.
this isnt about being a believer or not, this is about pulling ones head out of the sand. company is i assume trying desperately to address these measures. timing could not have been worse. three more weeks and they could have hedged in the fifties. id imagine long term hedging rates now in high sixties, almost no point hedging anymore
i hope they can work it out. will revisit stock when the downside isnt 100%. wont be the first time this project has bankrupted a company
good luck
mount gibson , page-17
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Last
38.0¢ |
Change
-0.010(2.56%) |
Mkt cap ! $462.9M | |||
| Open | High | Low | Value | Volume |
| 38.5¢ | 39.0¢ | 38.0¢ | $885.8K | 2.300M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 26 | 943011 | 38.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 38.5¢ | 58792 | 3 |
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| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| MGX (ASX) Chart |