I truly doubt whether MGX will pay more than 2c this financial reporting season. MGX is barely making a profit if at all.
MGX only shipped 400,000 tonnes max the last quarter and 80,000 tonnes so far this quarter. The iron ore price has now slipped US$20/tonne. Unfortunately MGX never made hay whilst the sun shines. This quarter has also started off badly, so MGX management really need to get their act together.
Getting to $1 shouldn't be hard when MGX eventually starts shipping high grade, the question is when and what price will the IO be at that time.
MGX and GRR. Performance comparison Q4 2021, page-25
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