I received the Merrill Lynch report on MGX dated 16 Jan 2009.
They basically say that the Chinese want contract prices to return to 2007 levels, which is down 45% for Australian suppliers. With MGX receiving benchmark less 10%.
Based on that analysis ML determine that MGX would earn 7.7cps in FY09 at 0.66 A$/US$, suggesting a share price in the range of 80-100cps.
Cheers.
NZSLY
maquarie report 20.01.09 mgx, page-12
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32.5¢ |
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| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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