Yes, I think MGX will contginue to drift downwards now that iron ore prices are coming off with additional volumes finding their way in to the market, and with China demand softer.
Share price will likely be sold off until if reflects largely the value of future cashflows from Koolan, and cash balance.
MGX share price is also at risk of making an acqusition that the market does't like. (though also has upside here, markets more often dislike acqsitions and would prefer the return of the cash in MGX's case)
If you have to be exposed to iron ore, I would go with one of the other stocks.
why down??, page-4
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Last
41.0¢ |
Change
0.005(1.23%) |
Mkt cap ! $498.1M | |||
| Open | High | Low | Value | Volume |
| 40.0¢ | 41.5¢ | 40.0¢ | $614.1K | 1.514M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 42537 | 41.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 41.5¢ | 58325 | 3 |
View Market Depth
| Last trade - 16.10pm 26/06/2024 (20 minute delay) ? |
| MGX (ASX) Chart |