At the current SP (Mkt Cap c. $700m), the EV of the company is only $400m as there is $300m Cash sitting on the balance sheet & no debt.
With an EV of $400m, given the resource base & production rates, this IMO is a sitting duck for a takeover. (Let's not forget last FY, they had a pre-tax profit of c. $250m)
Just like MRE (Minara), I wouldn't be surprised if the major shareholder(s) made a play for full control at these levels...
Gee... if I could fund the T/O, I would have a crack myself!
sitting duck
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Last
32.0¢ |
Change
-0.005(1.54%) |
Mkt cap ! $389.5M | |||
| Open | High | Low | Value | Volume |
| 32.5¢ | 32.5¢ | 31.0¢ | $500.4K | 1.571M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 107146 | 32.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 32.5¢ | 60553 | 2 |
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| MGX (ASX) Chart |