I am new to the stock, but happy to accumulate at these levels as I see no downside. Some have said that the cash they hold will be wasted or depleted, but I am confused with these statements as the interest alone on 350mil is 10-12 mil p/year, which easily services current requirements. even if no insurance payout and nothing happens from here on in, cash is king and there would be plenty companies in the sector who would be banging down the door of MGX to do joint ventures as there is very little new capital around.
Just my thoughts but I think this one is a no brainer and people are just trying to look for a reason the stock is sitting at these levels. Truth is its just sentiment and irrational trading.
But DYOR.
Quarterly, page-30
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Last
36.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $444.6M | |||
| Open | High | Low | Value | Volume |
| 37.0¢ | 37.0¢ | 36.5¢ | $244.0K | 664.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 118094 | 36.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 37.0¢ | 50000 | 2 |
View Market Depth
| Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
| MGX (ASX) Chart |