I did not buy into MGX because of the prospect of a dividend. I bought into MGX because it was valued at a significant discount to cash and has a significant project on the horizon - an asset play (KI).
I can invest cash in the bank and earn 2.xx%, but I can't go out and buy a resource, mine it, and have 30% more money than when I started. That's why I'm invested in MGX. That is when a dividend will make more sense.
I want to see the company do something productive with the cash like buy a compelling project. Until then I am happy to wait. KI will get us through a few more years so we might as well wait for favourable metrics.
Ann: Profit Results for FY2017 and Declaration of Final Dividend, page-8
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Last
30.5¢ |
Change
-0.010(3.17%) |
Mkt cap ! $371.5M | |||
| Open | High | Low | Value | Volume |
| 31.0¢ | 31.5¢ | 30.5¢ | $7.689M | 25.17M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 1568943 | 30.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 31.0¢ | 151851 | 2 |
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| Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
| MGX (ASX) Chart |