MGX is exporting Australia's highest-grade (65% FE) into the global market, 65% FE has limited global supply, so demands a premium...
There will always be demand for 65% FE, even when 'core' demand volumes drop for lower-grades, I think you'll find 65% FE has less volatile demand-volumes than lower-grades, steel production doesn't stop, so MGX will be making money for a while yet, and with FCF, then acquisitions and production expansion is likely...
If they happen to strike Gold, which I read recently they are investigating, again safe-haven asset with significant upside as global markets shudder through the next 'recessionary' period...
I'm expecting MGX to surprise in the AR and perhaps even the DIV metrics...
ML
SP, page-11
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Last
32.3¢ |
Change
-0.003(0.77%) |
Mkt cap ! $392.5M | |||
| Open | High | Low | Value | Volume |
| 33.0¢ | 33.0¢ | 32.0¢ | $266.6K | 820.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 25 | 416025 | 32.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 32.5¢ | 33752 | 9 |
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| Last trade - 13.57pm 09/10/2024 (20 minute delay) ? |
| MGX (ASX) Chart |