You beat me to it YRT. IMO MGX is already almost fully valued at its current market cap. The resource size is the let down of this stock. They need to T/O or buy some other iron ore resources because these simply won't last.
MGX was was of the best ASX200 preformers for 2007. However its price is now fully valued. A lot of other investors will be seeking other plays for better returns. Stocks like GBG are already showing this, and so they should be.
Goodluck holders, and I still beleive MGX is a good stock (not down ramping at all).
why is mgx floundering, page-15
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Last
31.5¢ |
Change
-0.015(4.55%) |
Mkt cap ! $383.7M | |||
| Open | High | Low | Value | Volume |
| 33.0¢ | 33.3¢ | 31.0¢ | $846.6K | 2.641M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 93644 | 31.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 32.0¢ | 95399 | 2 |
View Market Depth
| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| MGX (ASX) Chart |